Primoris Wealth Advisors LLC Sells 8,985 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Primoris Wealth Advisors LLC cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 27.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 23,773 shares of the computer hardware maker's stock after selling 8,985 shares during the period. NVIDIA accounts for 2.0% of Primoris Wealth Advisors LLC's holdings, making the stock its 16th largest position. Primoris Wealth Advisors LLC's holdings in NVIDIA were worth $2,577,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of NVDA. FMR LLC increased its stake in NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC boosted its position in NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after buying an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank acquired a new position in shares of NVIDIA during the fourth quarter worth $43,515,504,000. Finally, Northern Trust Corp lifted its holdings in shares of 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 purchasing an additional 36,266,817 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Price Performance

NASDAQ NVDA traded down $0.59 on Friday, hitting $172.41. The stock had a trading volume of 145,724,125 shares, compared to its average volume of 263,966,224. The firm has a 50-day moving average of $146.99 and a 200-day moving average of $129.86. 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 capitalization of $4.21 trillion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $174.25.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business 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%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. Equities analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently issued reports on NVDA. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. Oppenheimer lifted their price target on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Morgan Stanley reaffirmed an "overweight" rating and issued a $170.00 price target (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Loop Capital lifted their price target on shares of NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Finally, Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $181.22.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,964,800 shares of company stock valued at $734,906,003. Insiders own 4.17% of the company's stock.

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.