NVIDIA Corporation (NASDAQ:NVDA) Stock Holdings Lessened by WealthTrust Asset Management LLC

Key Points

• WealthTrust Asset Management LLC reduced its stake in NVIDIA by 40.3% in the first quarter, now holding 13,406 shares valued at approximately $1.45 million.
• NVIDIA's quarterly earnings report showed a miss on EPS expectations at $0.81, but a strong revenue of $44.06 billion, reflecting a 69.2% year-over-year increase.
• Several analysts have raised their price targets for NVIDIA, with Needham & Company increasing their target to $200, maintaining a "buy" rating on the stock.

WealthTrust Asset Management LLC decreased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 40.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,406 shares of the computer hardware maker's stock after selling 9,047 shares during the quarter. NVIDIA comprises 1.1% of WealthTrust Asset Management LLC's investment portfolio, making the stock its 19th largest holding. WealthTrust Asset Management LLC's holdings in NVIDIA were worth $1,453,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the fourth quarter worth $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the fourth quarter worth $38,000. Copia Wealth Management acquired a new position in NVIDIA in the fourth quarter valued at about $50,000. Barnes Dennig Private Wealth Management LLC bought a new stake in NVIDIA during the 1st quarter worth approximately $51,000. Finally, Bruce G. Allen Investments LLC lifted its position in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Trading Up 0.7%

Shares of NVDA stock opened at $179.42 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The business has a 50-day moving average of $158.02 and a 200 day moving average of $133.22. The stock has a market capitalization of $4.38 trillion, a PE ratio of 57.88, a P/E/G ratio of 1.57 and a beta of 2.14. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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 net margin of 51.69% and a return on equity of 105.09%. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.61 EPS. As a group, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on NVDA shares. Needham & Company LLC boosted their price objective on NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Loop Capital upped their target price on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Finally, Oppenheimer increased their price target on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a report on Tuesday, July 15th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $183.75.

Insider Buying and Selling

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 value of $11,440,500.00. Following the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the sale, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,537,440 shares of company stock worth $835,035,782 over the last three months. 4.17% of the stock is owned by corporate 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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