Parr Mcknight Wealth Management Group LLC Sells 5,534 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Parr Mcknight Wealth Management Group LLC reduced its stake in NVIDIA Corporation by 12.0% in Q1, now holding 40,751 shares valued at $4,417,000.
• NVIDIA's stock has seen a 3.6% increase recently, with a one-year range between $86.62 and $183.30, and a current P/E ratio of 58.06.
• The company announced a $0.01 quarterly dividend on July 3rd, with a payout ratio of 1.29%, reflecting its financial stability overall.

Parr Mcknight Wealth Management Group LLC reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 12.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,751 shares of the computer hardware maker's stock after selling 5,534 shares during the period. Parr Mcknight Wealth Management Group LLC's holdings in NVIDIA were worth $4,417,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Wealth Group Ltd. raised its stake in NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after buying an additional 100 shares during the period. Tallon Kerry Patrick bought a new stake in NVIDIA in the fourth quarter valued at approximately $972,000. Brighton Jones LLC raised its stake in NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after buying an additional 35,815 shares during the period. Bank Pictet & Cie Europe AG increased its stake in shares of NVIDIA by 1.0% during the fourth 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 increased its stake in shares of NVIDIA by 6.7% during the fourth 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. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVDA traded down $1.74 during trading hours on Tuesday, hitting $178.26. The company's stock had a trading volume of 155,486,898 shares, compared to its average volume of 164,064,272. The company has a market cap of $4.35 trillion, a price-to-earnings ratio of 57.50, a PEG ratio of 1.59 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The business has a 50 day simple moving average of $156.27 and a two-hundred day simple moving average of $132.58. 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 posted its earnings results 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 return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter in the prior year, the company earned $0.61 EPS. The company's revenue was up 69.2% on a year-over-year basis. On average, equities analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 27,650 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the sale, the chief financial officer owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Monday, August 4th. The stock was sold at an average price of $178.16, for a total value of $13,362,000.00. Following the completion of the sale, the chief executive officer owned 73,523,225 shares in the company, valued at $13,098,897,766. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,489,800 shares of company stock worth $826,553,003. Insiders own 4.17% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NVDA. The Goldman Sachs Group began coverage on NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 price target on the stock. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Mizuho set a $192.00 target price on NVIDIA and gave the company an "outperform" rating in a report on Tuesday, July 15th. Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Finally, Jefferies Financial Group raised their target price on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat, the company currently has an average 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.