Provident Wealth Management LLC Sells 1,664 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Provident Wealth Management LLC decreased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 47.1% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 1,872 shares of the computer hardware maker's stock after selling 1,664 shares during the period. Provident Wealth Management LLC's holdings in NVIDIA were worth $203,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SC&H Financial Advisors Inc. raised its position in shares of NVIDIA by 1.6% during the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock worth $681,000 after purchasing an additional 80 shares during the period. DecisionPoint Financial LLC raised its holdings in NVIDIA by 2.9% during the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock worth $386,000 after buying an additional 80 shares during the period. BCR Wealth Strategies LLC raised its holdings in NVIDIA by 3.1% during the 4th quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock worth $391,000 after buying an additional 89 shares during the period. Condor Capital Management raised its holdings in NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after buying an additional 89 shares during the period. Finally, Squire Investment Management Company LLC raised its holdings in NVIDIA by 4.0% during the 4th quarter. Squire Investment Management Company LLC now owns 2,360 shares of the computer hardware maker's stock worth $317,000 after buying an additional 91 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NVDA shares. Hsbc Global Res lowered shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. The Goldman Sachs Group began coverage on NVIDIA in a research note on Thursday. They issued a "buy" rating and a $185.00 price target on the stock. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Barclays lifted their price target on shares of NVIDIA from $170.00 to $200.00 and gave the company an "overweight" rating in a research note on Tuesday, June 17th. Finally, Raymond James Financial boosted their price target on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $177.03.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated 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 transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the sale, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,520,246 shares of company stock worth $660,253,045. Insiders own 4.17% of the company's stock.

NVIDIA Price Performance

NVIDIA stock traded up $1.22 during mid-day trading on Thursday, reaching $164.10. 167,093,998 shares of the company were exchanged, compared to its average volume of 266,706,770. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $164.50. The firm has a market cap of $4.00 trillion, a PE ratio of 52.94, a PEG ratio of 1.44 and a beta of 2.13. The company has a fifty day simple moving average of $140.52 and a 200-day simple moving average of $128.60.

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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the business earned $0.61 earnings per share. NVIDIA's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, equities research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

NVIDIA Company 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.