Patron Partners LLC Decreases Stake in NVIDIA Corporation (NASDAQ:NVDA)

Patron Partners LLC cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 51,698 shares of the computer hardware maker's stock after selling 3,869 shares during the quarter. NVIDIA accounts for about 3.0% of Patron Partners LLC's portfolio, making the stock its 3rd largest position. Patron Partners LLC's holdings in NVIDIA were worth $5,603,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Tacita Capital Inc bought a new stake in shares of NVIDIA during the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA during the 4th quarter valued at approximately $38,000. Copia Wealth Management bought a new stake in shares of NVIDIA during the 4th quarter valued at approximately $50,000. Bruce G. Allen Investments LLC boosted its position in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $53,000 after buying an additional 327 shares during the period. Finally, LSV Asset Management acquired a new stake in NVIDIA during the 4th quarter worth approximately $54,000. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director directly owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,964,800 shares of company stock worth $734,906,003 over the last ninety days. Company insiders own 4.17% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on NVDA. Benchmark reiterated a "buy" rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a research report on Wednesday, April 30th. Barclays lifted their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. Finally, Morgan Stanley restated an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $181.22.

NVIDIA Stock Performance

NASDAQ NVDA opened at $172.41 on Monday. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $174.25. The company has a 50-day simple moving average of $146.99 and a 200 day simple moving average of $129.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The company has a market capitalization of $4.21 trillion, a PE ratio of 55.62, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. On average, research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA's dividend payout ratio is presently 1.29%.

About NVIDIA

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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