NVIDIA Corporation (NASDAQ:NVDA) Stock Position Lowered by Hudson Valley Investment Advisors Inc. ADV

Hudson Valley Investment Advisors Inc. ADV cut its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 289,079 shares of the computer hardware maker's stock after selling 9,720 shares during the period. NVIDIA comprises about 3.7% of Hudson Valley Investment Advisors Inc. ADV's holdings, making the stock its 6th largest position. Hudson Valley Investment Advisors Inc. ADV's holdings in NVIDIA were worth $31,330,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Hickory Point Bank & Trust acquired a new position in shares of NVIDIA during the 4th quarter valued at about $2,272,000. BTC Capital Management Inc. increased its stake in shares of NVIDIA by 2.3% during the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock valued at $35,785,000 after acquiring an additional 7,476 shares during the last quarter. Capital Performance Advisors LLP increased its stake in shares of NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock valued at $3,586,000 after acquiring an additional 9,944 shares during the last quarter. Waddell & Associates LLC increased its stake in shares of NVIDIA by 1.2% during the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock valued at $3,240,000 after acquiring an additional 297 shares during the last quarter. Finally, Strategy Asset Managers LLC increased its position in NVIDIA by 0.8% during the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock worth $7,024,000 after purchasing an additional 405 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director now owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares of the company's stock, valued at approximately $55,997,190.40. This trade represents a 0.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,540,845 shares of company stock valued at $357,983,449. Company insiders own 4.17% of the company's stock.

NVIDIA Stock Up 0.9%

NVDA stock opened at $145.48 on Thursday. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The firm's 50-day simple moving average is $124.96 and its 200 day simple moving average is $126.62. The stock has a market cap of $3.55 trillion, a PE ratio of 46.93, a price-to-earnings-growth ratio of 1.27 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion for 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 quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research reports. TD Cowen boosted their price objective 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. KeyCorp set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Barclays upped their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Tuesday. Piper Sandler restated an "overweight" rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Finally, Oppenheimer restated an "outperform" rating and issued a $175.00 target price on shares of NVIDIA in a research note on Monday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $173.05.

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.

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.