NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Provident Wealth Management LLC

Provident Wealth Management LLC trimmed its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 47.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of NVDA. LongView Wealth Management grew its stake in shares of NVIDIA by 2.4% in the 1st quarter. LongView Wealth Management now owns 21,614 shares of the computer hardware maker's stock worth $2,342,000 after buying an additional 500 shares in the last quarter. River Street Advisors LLC grew its stake in shares of NVIDIA by 2.5% in the 1st quarter. River Street Advisors LLC now owns 54,740 shares of the computer hardware maker's stock worth $5,933,000 after buying an additional 1,358 shares in the last quarter. Means Investment CO. Inc. grew its stake in shares of NVIDIA by 10.5% in the 1st quarter. Means Investment CO. Inc. now owns 269,908 shares of the computer hardware maker's stock worth $29,253,000 after buying an additional 25,617 shares in the last quarter. Walter & Keenan Wealth Management LLC IN ADV grew its stake in shares of NVIDIA by 18.8% in the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 31,939 shares of the computer hardware maker's stock worth $3,462,000 after buying an additional 5,052 shares in the last quarter. Finally, Trifecta Capital Advisors LLC grew its stake in shares of NVIDIA by 1.4% in the 1st quarter. Trifecta Capital Advisors LLC now owns 208,359 shares of the computer hardware maker's stock worth $22,582,000 after buying an additional 2,915 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 0.5%

Shares of NVDA traded up $0.82 during mid-day trading on Friday, hitting $164.92. The company's stock had a trading volume of 193,205,730 shares, compared to its average volume of 266,417,013. The company's 50-day moving average is $140.52 and its 200-day moving average is $128.60. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $167.84. The firm has a market capitalization of $4.02 trillion, a price-to-earnings ratio of 53.20, a PEG ratio of 1.44 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. On average, equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a dividend of $0.01 per share. 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 (DPR) is presently 1.29%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of recent research reports. KeyCorp set a $190.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. TD Cowen lifted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Truist Financial lifted their price target on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Finally, Loop Capital lifted their price target on shares of NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and an average price target of $177.03.

Insider Activity

In related news, Director Mark A. Stevens sold 935,000 shares of the business'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 transaction of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the business'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 transaction, the chief executive officer owned 75,548,225 shares of the company's stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,520,246 shares of company stock worth $660,253,045. 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.