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

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

Other institutional investors have also recently bought and sold shares of the company. Tacita Capital Inc acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $38,000. Copia Wealth Management acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $50,000. Bruce G. Allen Investments LLC boosted its holdings in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after buying an additional 327 shares during the period. Finally, LSV Asset Management acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Summit Insights upgraded shares of NVIDIA from a "hold" rating to a "buy" rating in a report on Thursday, May 29th. UBS Group restated a "buy" rating on shares of NVIDIA in a report on Friday, May 23rd. Arete Research upgraded shares of NVIDIA to a "strong-buy" rating in a report on Wednesday, May 21st. Morgan Stanley restated an "overweight" rating and set a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Finally, Needham & Company LLC restated a "buy" rating and set a $160.00 target price on shares of NVIDIA in a report on Thursday, May 29th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $177.03.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $158.35, for a total value of $11,876,250.00. Following the sale, the chief executive officer directly owned 75,023,225 shares in the company, valued at approximately $11,879,927,678.75. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director A Brooke Seawell sold 50,514 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were sold at an average price of $158.37, for a total transaction of $7,999,902.18. Following the completion of the transaction, the director owned 1,974,784 shares of the company's stock, valued at approximately $312,746,542.08. This trade represents a 2.49% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,296,844 shares of company stock worth $624,019,677. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

Shares of NVDA traded up $1.15 during mid-day trading on Thursday, reaching $164.03. The company had a trading volume of 110,780,717 shares, compared to its average volume of 266,426,752. The company's 50 day simple moving average is $139.47 and its 200 day simple moving average is $128.43. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $164.70. 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 $4.00 trillion, a price-to-earnings ratio of 52.91, a P/E/G ratio of 1.42 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly 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 net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 earnings per share. The company's revenue for the quarter was up 69.2% on a year-over-year basis. Analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 dividend yield of 0.02%. NVIDIA's payout ratio is currently 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.