Peregrine Asset Advisers Inc. Sells 33,641 Shares of NVIDIA Corporation $NVDA

Peregrine Asset Advisers Inc. cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 35.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,132 shares of the computer hardware maker's stock after selling 33,641 shares during the period. NVIDIA makes up about 2.5% of Peregrine Asset Advisers Inc.'s holdings, making the stock its 6th biggest position. Peregrine Asset Advisers Inc.'s holdings in NVIDIA were worth $6,734,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Copia Wealth Management acquired a new position in shares of NVIDIA during the 4th quarter worth about $50,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of NVIDIA during the 1st quarter worth about $51,000. Bruce G. Allen Investments LLC lifted its position in shares of 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 purchasing an additional 327 shares during the last quarter. LSV Asset Management acquired a new position in shares of NVIDIA during the 4th quarter worth about $54,000. Finally, Delos Wealth Advisors LLC lifted its position in shares of NVIDIA by 134.8% during the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker's stock worth $66,000 after purchasing an additional 283 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total value of $13,603,500.00. Following the sale, the chief executive officer owned 72,998,225 shares of the company's stock, valued at $13,240,418,050.50. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 27,640 shares of the business's stock in a transaction on Monday, August 4th. The stock was sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. This represents a 0.93% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,837,440 shares of company stock worth $889,404,782. Insiders own 4.17% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on NVDA. Wells Fargo & Company boosted their price objective on NVIDIA from $185.00 to $220.00 and gave the stock an "overweight" rating in a research report on Monday, August 11th. Rosenblatt Securities upped their price target on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Bank of America upped their price target on NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Benchmark reaffirmed a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Finally, Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $186.33.

NVIDIA Stock Down 0.9%

NASDAQ NVDA opened at $180.45 on Monday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $184.48. The company has a 50 day moving average of $163.96 and a 200-day moving average of $135.52. The company has a market cap of $4.40 trillion, a price-to-earnings ratio of 58.21, a PEG ratio of 1.59 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The firm's quarterly revenue was up 69.2% on a year-over-year basis. On average, equities research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. 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 payout ratio is presently 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.

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