NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Left Brain Wealth Management LLC

Key Points

• Left Brain Wealth Management LLC has reduced its stake in NVIDIA Corporation by 3.8%, now owning 199,735 shares valued at approximately $21.6 million, making it the largest position in their portfolio.
• NVIDIA reported earnings of $0.81 per share for the latest quarter, missing estimates, but achieved revenue of $44.06 billion, exceeding expectations by $900 million.
• Insider trading activity includes Ajay K. Puri, EVP, and Mark A. Stevens, Director, selling significant portions of their shares, indicating a 4.02% and 9.21% ownership decrease respectively.

Left Brain Wealth Management LLC decreased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,735 shares of the computer hardware maker's stock after selling 7,818 shares during the quarter. NVIDIA makes up 9.4% of Left Brain Wealth Management LLC's portfolio, making the stock its largest position. Left Brain Wealth Management LLC's holdings in NVIDIA were worth $21,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of NVIDIA during the fourth quarter valued at $43,515,504,000. GAMMA Investing LLC increased its stake in shares of NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after buying an additional 48,439,859 shares during the period. Northern Trust Corp increased its stake in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock valued at $3,864,026,000 after buying an additional 23,948,733 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of NVIDIA during the fourth quarter valued at $2,987,733,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NVDA stock traded down $0.64 during mid-day trading on Monday, reaching $182.06. 138,011,711 shares of the company's stock were exchanged, compared to its average volume of 244,601,375. The company has a market cap of $4.44 trillion, a price-to-earnings ratio of 58.73, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. The stock's 50 day moving average is $159.82 and its 200 day moving average is $133.62. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $183.88.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 EPS. On average, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Analysts Set New Price Targets

NVDA has been the subject of a number of analyst reports. TD Cowen upped their price objective on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Rosenblatt Securities upped their price objective on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. BNP Paribas upgraded NVIDIA to a "hold" rating in a research note on Friday, August 1st. The Goldman Sachs Group initiated coverage on NVIDIA in a research note on Thursday, July 10th. They set a "buy" rating and a $185.00 price objective for the company. Finally, DA Davidson upped their price objective on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and an average price target of $183.75.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,687,440 shares of company stock worth $862,095,782. 4.17% of the stock is owned by insiders.

NVIDIA Profile

NVIDIA Corporation provides graphics and compute and networking solutions in the United States, Taiwan, China, Hong Kong, and internationally. The Graphics segment offers GeForce GPUs for gaming and PCs, the GeForce NOW game streaming service and related infrastructure, and solutions for gaming platforms; Quadro/NVIDIA RTX GPUs for enterprise workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D internet applications.