NVIDIA Corporation (NASDAQ:NVDA) Stake Lowered by Park Square Financial Group LLC

Key Points

• Park Square Financial Group LLC reduced its stake in NVIDIA by 4.3%, now holding approximately 10.1% of its assets in the computer hardware maker, valued at $12,664,000.
• Insider selling activities included CEO Jen Hsun Huang and EVP Ajay K. Puri selling a total of 243,195 shares worth over $37 million in late June.
• NVIDIA reported a Q1 EPS of $0.81, falling short of estimates while achieving a revenue of $44.06 billion, a 69.2% increase year-over-year.

Park Square Financial Group LLC cut its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 4.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 116,845 shares of the computer hardware maker's stock after selling 5,306 shares during the period. NVIDIA comprises about 10.1% of Park Square Financial Group LLC's holdings, making the stock its largest position. Park Square Financial Group LLC's holdings in NVIDIA were worth $12,664,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in NVDA. Cromwell Holdings LLC raised its stake in NVIDIA by 1.2% in the 1st quarter. Cromwell Holdings LLC now owns 69,344 shares of the computer hardware maker's stock valued at $7,516,000 after purchasing an additional 826 shares during the last quarter. Gateway Wealth Partners LLC grew its holdings in shares of NVIDIA by 9.6% during the 1st quarter. Gateway Wealth Partners LLC now owns 29,540 shares of the computer hardware maker's stock worth $3,202,000 after purchasing an additional 2,577 shares during the period. Greater Midwest Financial Group LLC boosted its holdings in NVIDIA by 442.5% in the 1st quarter. Greater Midwest Financial Group LLC now owns 20,768 shares of the computer hardware maker's stock worth $2,251,000 after acquiring an additional 16,940 shares during the period. Diversify Wealth Management LLC boosted its holdings in NVIDIA by 0.7% in the 1st quarter. Diversify Wealth Management LLC now owns 222,401 shares of the computer hardware maker's stock worth $24,246,000 after acquiring an additional 1,439 shares during the period. Finally, Crosspoint Financial LLC purchased a new position in shares of NVIDIA during the 1st quarter valued at approximately $407,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the sale, the chief executive officer owned 75,548,225 shares in the company, valued at approximately $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 can be accessed through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,537,440 shares of company stock worth $835,035,782. 4.17% of the stock is owned by company insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $179.42 on Thursday. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $183.30. The firm has a market capitalization of $4.38 trillion, a PE ratio of 57.88, a PEG ratio of 1.57 and a beta of 2.14. The business's 50 day moving average is $158.02 and its 200-day moving average is $133.22. 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 announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 EPS. Sell-side analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NVDA. Loop Capital upped their price target on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. UBS Group reissued a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. TD Cowen lifted their price target on NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $183.75.

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.

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