NVIDIA Corporation (NASDAQ:NVDA) Stake Lowered by Naviter Wealth LLC

Naviter Wealth LLC lessened its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 166,655 shares of the computer hardware maker's stock after selling 2,349 shares during the period. NVIDIA accounts for approximately 2.2% of Naviter Wealth LLC's portfolio, making the stock its 6th largest position. Naviter Wealth LLC's holdings in NVIDIA were worth $18,279,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Tacita Capital Inc acquired a new stake in NVIDIA in the fourth quarter valued at about $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA in the fourth quarter valued at about $38,000. Copia Wealth Management acquired a new stake in NVIDIA in the fourth quarter valued at about $50,000. Bruce G. Allen Investments LLC lifted its position in NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the period. Finally, LSV Asset Management acquired a new stake in NVIDIA in the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. The Goldman Sachs Group initiated coverage on shares of NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 price target for the company. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Loop Capital lifted their price target on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Finally, UBS Group reiterated a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $181.22.

NVIDIA Price Performance

Shares of NVDA opened at $167.03 on Wednesday. The company has a market cap of $4.08 trillion, a price-to-earnings ratio of 53.88, a PEG ratio of 1.51 and a beta of 2.13. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.25. The company's fifty day simple moving average is $146.99 and its 200 day simple moving average is $129.81. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

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

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA's dividend payout ratio is currently 1.29%.

Insider Buying and Selling at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the sale, the chief executive officer owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares of the company's stock, valued at $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,964,800 shares of company stock valued at $734,906,003. 4.17% of the stock is currently owned by insiders.

About NVIDIA

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.

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