Petros Family Wealth LLC Sells 1,750 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Petros Family Wealth LLC lowered its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,626 shares of the computer hardware maker's stock after selling 1,750 shares during the quarter. NVIDIA comprises approximately 2.2% of Petros Family Wealth LLC's holdings, making the stock its 9th largest holding. Petros Family Wealth LLC's holdings in NVIDIA were worth $2,019,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NVDA. Norges Bank acquired a new position in NVIDIA during the fourth quarter valued at approximately $43,515,504,000. GAMMA Investing LLC increased its position in NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after buying an additional 48,439,859 shares during the last quarter. Northern Trust Corp increased its position in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. Proficio Capital Partners LLC increased its position in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after buying an additional 34,441,082 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after buying an additional 23,948,733 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $0.74 during trading hours on Wednesday, reaching $169.96. The company's stock had a trading volume of 75,636,706 shares, compared to its average volume of 264,910,876. The firm has a 50 day moving average price of $143.67 and a 200-day moving average price of $129.10. NVIDIA Corporation has a one year low of $86.62 and a one year high of $172.40. 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 stock has a market cap of $4.15 trillion, a P/E ratio of 54.81, a P/E/G ratio of 1.45 and a beta of 2.13.

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 for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter last year, the firm earned $0.61 earnings per share. The business's quarterly revenue was up 69.2% on a year-over-year basis. On average, analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors 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 annualized dividend and a yield of 0.02%. NVIDIA's payout ratio is 1.29%.

Insiders Place Their Bets

In other news, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the sale, the chief executive officer directly owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,767,150 shares of company stock worth $701,030,045. Insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Needham & Company LLC increased their target price on NVIDIA from $160.00 to $200.00 and gave the stock a "buy" rating in a research note on Wednesday. Morgan Stanley reiterated an "overweight" rating and issued a $170.00 price target (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. KeyCorp set a $190.00 price target on NVIDIA in a research note on Wednesday, March 19th. Rosenblatt Securities lifted their price target on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, Summit Insights upgraded NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and an average price target of $179.03.

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.