NVIDIA Corporation (NASDAQ:NVDA) Stock Position Lowered by OMC Financial Services LTD

Key Points

• OMC Financial Services LTD reduced its stake in NVIDIA Corporation by 6.1%, bringing their total shares to 236,832, which now accounts for approximately 11.5% of their holdings.
• NVIDIA's stock recently opened at $173.72 and has a market capitalization of $4.24 trillion, with its stock down 2.3%.
• The company reported quarterly earnings of $0.81 per share, missing analysts' expectations of $0.87, despite revenue increasing by 69.2% year-over-year.

OMC Financial Services LTD cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 6.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 236,832 shares of the computer hardware maker's stock after selling 15,403 shares during the quarter. NVIDIA makes up approximately 11.5% of OMC Financial Services LTD's holdings, making the stock its 2nd biggest holding. OMC Financial Services LTD's holdings in NVIDIA were worth $25,668,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. FMR LLC increased its holdings in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after buying an additional 6,665,252 shares during the period. Geode Capital Management LLC increased its holdings in NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after buying an additional 3,721,331 shares during the period. Norges Bank purchased a new position in NVIDIA during the fourth quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp increased its holdings in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 2.3%

NVDA stock opened at $173.72 on Monday. The stock has a market capitalization of $4.24 trillion, a P/E ratio of 56.04, a P/E/G ratio of 1.53 and a beta of 2.14. The firm has a 50-day simple moving average of $155.30 and a 200-day simple moving average of $132.28. 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 52 week low of $86.62 and a 52 week high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts' expectations of $43.09 billion. During the same period in the prior year, the company posted $0.61 EPS. The firm's revenue was up 69.2% on a year-over-year basis. Equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Wall Street Analyst Weigh In

NVDA has been the topic of several analyst reports. The Goldman Sachs Group initiated 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. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Morgan Stanley lifted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Finally, Rosenblatt Securities lifted their price target on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. One 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $182.03.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $178.74, for a total transaction of $13,405,500.00. Following the completion of the sale, the chief executive officer owned 73,748,225 shares of the company's stock, valued at approximately $13,181,757,736.50. This represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 27,650 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares of the company's stock, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,339,800 shares of company stock valued at $800,141,003. Corporate insiders own 4.17% of the company's stock.

NVIDIA Company 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.

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