Pacific Global Investment Management Co. Decreases Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Pacific Global Investment Management Co. reduced its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 31.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 3,967 shares of the computer hardware maker's stock after selling 1,828 shares during the quarter. Pacific Global Investment Management Co.'s holdings in NVIDIA were worth $430,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund increased its position in shares of NVIDIA by 0.3% during the first quarter. Illinois Municipal Retirement Fund now owns 1,514,006 shares of the computer hardware maker's stock valued at $164,088,000 after purchasing an additional 4,757 shares during the period. Old North State Wealth Management LLC increased its position in shares of NVIDIA by 8.8% during the first quarter. Old North State Wealth Management LLC now owns 30,063 shares of the computer hardware maker's stock valued at $3,259,000 after purchasing an additional 2,420 shares during the period. Scott & Selber Inc. increased its position in shares of NVIDIA by 0.5% during the first quarter. Scott & Selber Inc. now owns 193,371 shares of the computer hardware maker's stock valued at $20,958,000 after purchasing an additional 934 shares during the period. Cornerstone Enterprises LLC increased its position in shares of NVIDIA by 12.2% during the first quarter. Cornerstone Enterprises LLC now owns 74,884 shares of the computer hardware maker's stock valued at $8,116,000 after purchasing an additional 8,139 shares during the period. Finally, Aspect Partners LLC increased its position in shares of NVIDIA by 71.0% during the first quarter. Aspect Partners LLC now owns 5,812 shares of the computer hardware maker's stock valued at $630,000 after purchasing an additional 2,414 shares during the period. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NVDA. Barclays upped their price target on NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Raymond James Financial upped their price target on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research note on Thursday, May 29th. Loop Capital increased their target price on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Finally, Arete Research raised NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the company's stock. Based on data from MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and an average target price of $181.22.

Insider Activity at NVIDIA

In other NVIDIA news, Director A Brooke Seawell sold 48,792 shares of the stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the transaction, the director directly owned 1,729,478 shares of the company's stock, valued at approximately $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 20,000 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.88, for a total value of $3,417,600.00. Following the transaction, the chief financial officer directly owned 163,060 shares of the company's stock, valued at approximately $27,863,692.80. This trade represents a 10.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,964,800 shares of company stock valued at $734,906,003. 4.17% of the stock is owned by insiders.

NVIDIA Stock Down 1.8%

NVDA stock traded down $3.08 during trading on Tuesday, reaching $168.30. 133,105,146 shares of the stock were exchanged, compared to its average volume of 262,895,036. The firm's 50 day moving average is $146.99 and its 200 day moving average is $129.81. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $174.25. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.11 trillion, a P/E ratio of 54.21, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. As a group, research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend 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.