Prakash Investment Advisors LLC Sells 2,350 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Prakash Investment Advisors LLC lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 2.0% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 114,405 shares of the computer hardware maker's stock after selling 2,350 shares during the period. NVIDIA accounts for about 13.7% of Prakash Investment Advisors LLC's portfolio, making the stock its largest position. Prakash Investment Advisors LLC's holdings in NVIDIA were worth $12,399,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Tacita Capital Inc acquired a new position in shares of NVIDIA during the fourth quarter valued at $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at $38,000. Copia Wealth Management acquired a new position in shares of NVIDIA during the fourth quarter valued at $50,000. Bruce G. Allen Investments LLC lifted its stake in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after acquiring an additional 327 shares during the period. Finally, LSV Asset Management acquired a new position in shares of NVIDIA during the fourth quarter valued at $54,000. Institutional investors own 65.27% of the company's stock.

Insider Buying and Selling

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,964,800 shares of company stock valued at $734,906,003 in the last ninety days. 4.17% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of several research reports. Phillip Securities raised NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 14th. TD Cowen upped their price target on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Wedbush reissued an "outperform" rating on shares of NVIDIA in a research note on Thursday, May 29th. Morgan Stanley reissued an "overweight" rating and issued a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Bank of America increased their target price on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $181.22.

NVIDIA Stock Down 2.5%

NASDAQ:NVDA opened at $167.03 on Wednesday. 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 cap of $4.08 trillion, a PE ratio of 53.88, a PEG ratio of 1.51 and a beta of 2.13. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $174.25. The stock has a 50-day simple moving average of $146.99 and a 200 day simple moving average of $129.81.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm 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%. The firm's quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 earnings per share. On average, sell-side analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. The ex-dividend date of this dividend 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 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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