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

Key Points

• Olde Wealth Management LLC has reduced its stake in NVIDIA Corporation by 2.9%, now holding 153,580 shares, which constitutes 5.9% of its portfolio and is its 4th largest holding.
• Insider trading activity saw CFO Colette Kress and CEO Jen Hsun Huang sell shares, with Kress selling 27,650 shares and Huang selling 75,000 shares, resulting in slight decreases in their ownership percentages.
• NVIDIA reported earnings of $0.81 per share, missing estimates, but seeing a revenue increase of 69.2% year-over-year, amounting to $44.06 billion for the most recent quarter.

Olde Wealth Management LLC lessened its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,580 shares of the computer hardware maker's stock after selling 4,624 shares during the period. NVIDIA makes up 5.9% of Olde Wealth Management LLC's portfolio, making the stock its 4th biggest position. Olde Wealth Management LLC's holdings in NVIDIA were worth $16,646,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA during the fourth quarter worth about $38,000. Copia Wealth Management bought a new position in shares of NVIDIA during the fourth quarter worth about $50,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of NVIDIA during the first quarter worth about $51,000. Finally, Bruce G. Allen Investments LLC grew its position in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after acquiring an additional 327 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on NVDA shares. HSBC lowered shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research note on Thursday, April 3rd. Phillip Securities upgraded NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Jefferies Financial Group raised their target price on NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Finally, Oppenheimer raised their target price on NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus price target of $182.03.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,339,800 shares of company stock valued at $800,141,003 in the last quarter. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Down 2.3%

NASDAQ NVDA traded down $4.15 during trading on Friday, hitting $173.72. 203,669,565 shares of the company traded hands, compared to its average volume of 248,821,531. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The business has a fifty day simple moving average of $154.45 and a 200 day simple moving average of $132.03. The company has a market capitalization of $4.24 trillion, a P/E ratio of 56.04, a PEG ratio of 1.58 and a beta of 2.13. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data 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 net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the firm posted $0.61 earnings per share. The firm's revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. 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.