NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Peddock Capital Advisors LLC

Key Points

• Peddock Capital Advisors LLC has sold 27,385 shares of NVIDIA Corporation, reducing its holdings by 6.4%, with the stock comprising approximately 11.0% of its portfolio.
• NVIDIA reported a net margin of 51.69% and a revenue of $44.06 billion in its latest quarterly earnings, outperforming some analyst estimates.
• Insider trading activities included a director selling 1,000,000 shares at approximately $142.80 per share, signifying a decrease in ownership by 3.61%.

Peddock Capital Advisors LLC decreased its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 6.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 401,851 shares of the computer hardware maker's stock after selling 27,385 shares during the quarter. NVIDIA comprises about 11.0% of Peddock Capital Advisors LLC's investment portfolio, making the stock its largest holding. Peddock Capital Advisors LLC's holdings in NVIDIA were worth $43,553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Group Ltd. boosted its position in NVIDIA by 1.8% during the fourth 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 acquired a new position in NVIDIA during the fourth quarter worth $972,000. Brighton Jones LLC raised its position in NVIDIA by 12.4% in 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 last quarter. Bank Pictet & Cie Europe AG grew its position 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 buying an additional 22,929 shares during the period. Finally, Highview Capital Management LLC DE raised its position in shares of NVIDIA by 6.7% in the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock valued at $7,842,000 after acquiring an additional 3,653 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NVDA shares. DA Davidson raised their price target on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research note on Thursday, May 29th. Barclays boosted their price target on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a report on Tuesday, June 17th. Mizuho set a $192.00 target price on NVIDIA and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Finally, Loop Capital lifted their price target on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $182.03.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer owned 73,523,225 shares of the company's stock, valued at $13,098,897,766. The trade was a 0.10% 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, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares of the company's stock, valued at approximately $510,023,939.24. This trade represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,489,800 shares of company stock worth $826,553,003 over the last three months. Corporate insiders own 4.17% of the company's stock.

NVIDIA Trading Up 0.7%

Shares of NVIDIA stock traded up $1.16 on Wednesday, hitting $179.42. The stock had a trading volume of 135,021,387 shares, compared to its average volume of 246,741,875. The stock's 50-day simple moving average is $157.13 and its two-hundred day simple moving average is $132.90. The stock has a market cap of $4.38 trillion, a price-to-earnings ratio of 57.88, 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 Corporation has a one year low of $86.62 and a one year high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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). The company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 earnings per share. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. 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 payout ratio is 1.29%.

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.