NVIDIA Corporation (NASDAQ:NVDA) Stake Reduced by Sowell Financial Services LLC

Sowell Financial Services LLC cut its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 14.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 390,520 shares of the computer hardware maker's stock after selling 63,586 shares during the quarter. NVIDIA comprises 1.9% of Sowell Financial Services LLC's holdings, making the stock its 6th largest position. Sowell Financial Services LLC's holdings in NVIDIA were worth $42,325,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Wealth Group Ltd. increased its holdings in NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after acquiring an additional 100 shares in the last quarter. Tallon Kerry Patrick purchased a new position in NVIDIA in the 4th quarter valued at $972,000. Capital & Planning LLC grew its holdings in shares of NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock worth $1,021,000 after buying an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. raised its position in shares of NVIDIA by 1.6% in the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock valued at $871,000 after buying an additional 104 shares during the last quarter. Finally, Brighton Jones LLC lifted its stake in shares of NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after buying an additional 35,815 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Monday, June 30th. The shares were sold at an average price of $157.53, for a total value of $11,814,750.00. Following the completion of the sale, the chief executive officer directly owned 75,323,225 shares in the company, valued at approximately $11,865,667,634.25. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director A Brooke Seawell sold 51,740 shares of the firm's stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $154.62, for a total transaction of $8,000,038.80. Following the completion of the transaction, the director owned 1,576,709 shares in the company, valued at $243,790,745.58. The trade was a 3.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,044,919 shares of company stock valued at $584,414,209. Corporate insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on NVDA shares. Oppenheimer reiterated an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday, June 16th. Mizuho upped their price target on NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a research note on Thursday, May 29th. TD Cowen boosted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Needham & Company LLC reissued a "buy" rating and issued a $160.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and an average price target of $175.78.

NVIDIA Price Performance

Shares of NVDA stock opened at $157.25 on Thursday. The firm has a fifty day simple moving average of $134.36 and a 200-day simple moving average of $127.45. The company has a market capitalization of $3.84 trillion, a PE ratio of 50.73, a price-to-earnings-growth ratio of 1.36 and a beta of 2.13. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $158.71. 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 posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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%. NVIDIA'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 firm earned $0.61 earnings per share. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.29%.

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.

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Corporation (NASDAQ:NVDA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.