Petra Financial Advisors Inc. Decreases Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Petra Financial Advisors Inc. cut its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 57.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,774 shares of the computer hardware maker's stock after selling 20,039 shares during the quarter. NVIDIA accounts for about 1.3% of Petra Financial Advisors Inc.'s portfolio, making the stock its 19th biggest position. Petra Financial Advisors Inc.'s holdings in NVIDIA were worth $1,601,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. GSB Wealth Management LLC boosted its holdings in NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after acquiring an additional 1,043 shares during the last quarter. Variant Private Wealth LLC lifted its position in shares of NVIDIA by 20.6% during the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock valued at $2,038,000 after purchasing an additional 3,206 shares in the last quarter. Financial Perspectives Inc lifted its position in shares of NVIDIA by 2.8% during the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock valued at $4,981,000 after purchasing an additional 1,265 shares in the last quarter. Hickory Point Bank & Trust purchased a new position in NVIDIA during the fourth quarter worth about $2,272,000. Finally, Pegasus Asset Management Inc. grew its position in NVIDIA by 0.3% in the 1st quarter. Pegasus Asset Management Inc. now owns 76,750 shares of the computer hardware maker's stock worth $8,318,000 after purchasing an additional 197 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on NVDA shares. Needham & Company LLC reissued a "buy" rating and set a $160.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Truist Financial lifted 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. Citigroup upped their price objective on NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a research note on Monday. Barclays lifted their target price on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 17th. Finally, DA Davidson raised their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $177.03.

NVIDIA Price Performance

Shares of NASDAQ NVDA traded up $0.82 during midday trading on Friday, hitting $164.92. 193,205,730 shares of the company's stock were exchanged, compared to its average volume of 265,988,678. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The business's fifty day moving average price is $141.53 and its two-hundred day moving average price is $128.77. The company has a market cap of $4.02 trillion, a price-to-earnings ratio of 53.20, a PEG ratio of 1.45 and a beta of 2.13. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $167.89.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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). The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. As a group, research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director directly owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,520,246 shares of company stock worth $660,253,045 in the last three months. Insiders own 4.17% of the company's stock.

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.