NVIDIA Corporation $NVDA is Peterson Wealth Services' 3rd Largest Position

Peterson Wealth Services lowered its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,333 shares of the computer hardware maker's stock after selling 11,378 shares during the period. NVIDIA accounts for 4.9% of Peterson Wealth Services' holdings, making the stock its 3rd biggest position. Peterson Wealth Services' holdings in NVIDIA were worth $15,968,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVDA. Copia Wealth Management acquired a new stake in NVIDIA during the fourth quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in NVIDIA during the first quarter valued at $51,000. Bruce G. Allen Investments LLC grew its position in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after buying an additional 327 shares during the period. LSV Asset Management acquired a new stake in NVIDIA during the fourth quarter valued at $54,000. Finally, Delos Wealth Advisors LLC grew its position in NVIDIA by 134.8% during the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock valued at $66,000 after buying an additional 283 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total value of $13,603,500.00. Following the sale, the chief executive officer directly owned 72,998,225 shares of the company's stock, valued at approximately $13,240,418,050.50. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Colette Kress sold 27,640 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,837,440 shares of company stock worth $889,404,782. Insiders own 4.17% of the company's stock.

NVIDIA Price Performance

Shares of NVDA opened at $180.45 on Monday. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $184.48. The firm's 50 day moving average price is $163.96 and its 200 day moving average price is $135.52. The company has a market cap of $4.40 trillion, a P/E ratio of 58.21, a PEG ratio of 1.59 and a beta of 2.14. 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 (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 the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. 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 previous year, the company earned $0.61 earnings per share. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. On average, research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Piper Sandler set a $225.00 price target on shares of NVIDIA and gave the company an "overweight" rating in a research report on Wednesday. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Morgan Stanley boosted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Rosenblatt Securities boosted their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of "Moderate Buy" and an average price target of $186.33.

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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