NVIDIA Corporation (NASDAQ:NVDA) Stock Holdings Lowered by Leavell Investment Management Inc.

Key Points

• Leavell Investment Management Inc. reduced its stake in NVIDIA Corporation by 1.7%, currently holding 1,015,400 shares valued at approximately $110 million, making it the firm's largest holding.
• Analysts have set new price targets for NVIDIA, with ratings ranging from "neutral" to "buy," and an average price target of $182.03.
• NVIDIA reported a 69.2% year-over-year increase in revenue for the last quarter, totaling $44.06 billion, although its earnings per share fell short of consensus estimates.

Leavell Investment Management Inc. lessened its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,015,400 shares of the computer hardware maker's stock after selling 17,220 shares during the period. NVIDIA makes up about 5.4% of Leavell Investment Management Inc.'s holdings, making the stock its biggest position. Leavell Investment Management Inc.'s holdings in NVIDIA were worth $110,059,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Quotient Wealth Partners LLC increased its stake in shares of NVIDIA by 10.4% in the 1st quarter. Quotient Wealth Partners LLC now owns 94,727 shares of the computer hardware maker's stock worth $10,266,000 after acquiring an additional 8,888 shares in the last quarter. First Interstate Bank grew its position in NVIDIA by 75.0% during the first quarter. First Interstate Bank now owns 37,158 shares of the computer hardware maker's stock valued at $4,027,000 after buying an additional 15,920 shares during the period. Alpha Financial Partners LLC lifted its holdings in NVIDIA by 2.8% during the first quarter. Alpha Financial Partners LLC now owns 5,123 shares of the computer hardware maker's stock valued at $555,000 after purchasing an additional 138 shares in the last quarter. Topsail Wealth Management LLC lifted its holdings in NVIDIA by 19.2% during the first quarter. Topsail Wealth Management LLC now owns 12,143 shares of the computer hardware maker's stock valued at $1,316,000 after purchasing an additional 1,956 shares in the last quarter. Finally, Wealth Advisory Solutions LLC lifted its holdings in shares of NVIDIA by 4.6% in the first quarter. Wealth Advisory Solutions LLC now owns 2,945 shares of the computer hardware maker's stock worth $319,000 after buying an additional 129 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. TD Cowen raised 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. Arete Research raised NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Piper Sandler reissued an "overweight" rating and set a $180.00 price target (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Finally, The Goldman Sachs Group started coverage on shares of NVIDIA in a report on Thursday, July 10th. They issued a "buy" rating and a $185.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $182.03.

NVIDIA Price Performance

NASDAQ:NVDA traded up $1.16 during trading hours on Wednesday, hitting $179.42. The company's stock had a trading volume of 135,021,387 shares, compared to its average volume of 246,741,875. The business's 50-day moving average is $157.13 and its two-hundred day moving average is $132.90. The company has a market capitalization of $4.38 trillion, a PE ratio of 57.88, a PEG ratio of 1.59 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results 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 during the quarter, compared to analyst estimates 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 period last year, the company posted $0.61 EPS. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.16, for a total transaction of $13,362,000.00. Following the completion of the transaction, the chief executive officer owned 73,523,225 shares of the company's stock, valued at $13,098,897,766. This represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 27,650 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the completion of the transaction, the chief financial officer owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,489,800 shares of company stock worth $826,553,003. 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.