Praxis Investment Management Inc. Reduces Stake in NVIDIA Corporation (NASDAQ:NVDA)

Praxis Investment Management Inc. trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 527,300 shares of the computer hardware maker's stock after selling 45,100 shares during the quarter. NVIDIA makes up 3.9% of Praxis Investment Management Inc.'s holdings, making the stock its 3rd biggest position. Praxis Investment Management Inc.'s holdings in NVIDIA were worth $57,149,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. GSB Wealth Management LLC raised its stake in shares of NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock valued at $3,534,000 after purchasing an additional 1,043 shares during the period. Variant Private Wealth LLC grew its stake in NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after acquiring an additional 3,206 shares in the last quarter. Financial Perspectives Inc grew its stake in NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after acquiring an additional 1,265 shares in the last quarter. Hickory Point Bank & Trust purchased a new position in NVIDIA during the fourth quarter valued at approximately $2,272,000. Finally, Pegasus Asset Management Inc. grew its stake in NVIDIA by 0.3% during the first quarter. Pegasus Asset Management Inc. now owns 76,750 shares of the computer hardware maker's stock valued at $8,318,000 after acquiring an additional 197 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on NVDA shares. Needham & Company LLC restated a "buy" rating and issued a $160.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. DA Davidson raised their price target on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. Bank of America raised their price target on NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. Truist Financial upped their target price on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, Oppenheimer reiterated an "outperform" rating and set a $175.00 price objective on shares of NVIDIA in a research report on Monday, June 16th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $177.03.

Insider Buying and Selling

In related news, 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 transaction, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the sale, the chief executive officer owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,296,844 shares of company stock worth $624,019,677 over the last three months. 4.17% of the stock is owned by corporate insiders.

NVIDIA Stock Up 0.7%

Shares of NVIDIA stock traded up $1.22 during trading on Thursday, hitting $164.10. The company's stock had a trading volume of 167,093,998 shares, compared to its average volume of 266,635,224. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $164.70. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The company has a fifty day simple moving average of $139.47 and a two-hundred day simple moving average of $128.43. The company has a market capitalization of $4.00 trillion, a PE ratio of 52.94, a P/E/G ratio of 1.42 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results 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 business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the business posted $0.61 EPS. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. Equities research analysts predict 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is 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.