Pacific Point Advisors LLC Lowers Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Pacific Point Advisors LLC significantly reduced its stake in NVIDIA Corporation by 42.9% during the first quarter, selling 3,000 shares and holding 4,000 shares valued at approximately $434,000 at quarter's end.
• Insider transactions revealed that EVP Ajay K. Puri and CEO Jen Hsun Huang both sold substantial amounts of stock, with Puri selling 168,195 shares for about $25.7 million and Huang selling 75,000 shares for around $11.4 million, indicating a decrease in their ownership.
• Despite the recent sell-offs, analysts maintain a consensus rating of "Moderate Buy" for NVIDIA's stock, with target prices reaching up to $210.00 from various investment firms.

Pacific Point Advisors LLC decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 42.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,000 shares of the computer hardware maker's stock after selling 3,000 shares during the quarter. Pacific Point Advisors LLC's holdings in NVIDIA were worth $434,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Group Ltd. grew its holdings in shares of NVIDIA by 1.8% during the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after purchasing an additional 100 shares during the period. Tallon Kerry Patrick purchased a new stake in shares of NVIDIA during the 4th quarter worth about $972,000. Brighton Jones LLC grew its holdings in shares of NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after purchasing an additional 35,815 shares during the period. Bank Pictet & Cie Europe AG grew its holdings in shares of NVIDIA by 1.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock worth $315,100,000 after purchasing an additional 22,929 shares during the period. Finally, Highview Capital Management LLC DE grew its holdings in shares of NVIDIA by 6.7% during the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock worth $7,842,000 after purchasing an additional 3,653 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the sale, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the sale, the chief executive officer directly owned 75,548,225 shares in the company, valued at $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. In the last three months, insiders sold 5,339,800 shares of company stock worth $800,141,003. Company insiders own 4.17% of the company's stock.

NVIDIA Stock Performance

NVIDIA stock opened at $173.72 on Friday. The company has a market cap of $4.24 trillion, a PE ratio of 56.04, a P/E/G ratio of 1.57 and a beta of 2.14. The company has a fifty day moving average price of $155.30 and a two-hundred day moving average price of $132.32. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to analyst estimates 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 in the prior year, the firm earned $0.61 EPS. Research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on NVDA shares. Rosenblatt Securities boosted their target price on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. Phillip Securities upgraded NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a report on Monday, July 14th. The Goldman Sachs Group started coverage on NVIDIA in a report on Thursday, July 10th. They set a "buy" rating and a $185.00 target price for the company. Mizuho set a $192.00 price target on NVIDIA and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Finally, Truist Financial upped their price target on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. 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 issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $182.03.

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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