RKL Wealth Management LLC Sells 4,525 Shares of NVIDIA Corporation (NASDAQ:NVDA)

RKL Wealth Management LLC lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,909 shares of the computer hardware maker's stock after selling 4,525 shares during the quarter. NVIDIA accounts for approximately 1.3% of RKL Wealth Management LLC's portfolio, making the stock its 22nd largest position. RKL Wealth Management LLC's holdings in NVIDIA were worth $13,321,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Tacita Capital Inc bought a new stake in shares of NVIDIA in the 4th quarter worth $28,000. Vision Financial Markets LLC bought a new stake in NVIDIA in the 4th quarter valued at about $38,000. Copia Wealth Management bought a new stake in NVIDIA in the 4th quarter valued at about $50,000. LSV Asset Management bought a new stake in shares of NVIDIA during the fourth quarter valued at about $54,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new stake in shares of NVIDIA during the first quarter valued at about $51,000. Institutional investors own 65.27% of the company's stock.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 168,195 shares of the business's stock in a transaction on 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 owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director owned 9,214,697 shares of the company's stock, valued at $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. In the last quarter, insiders sold 5,114,800 shares of company stock worth $760,553,003. 4.17% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research report on Monday, July 14th. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Bank of America raised their price target on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Loop Capital increased their price objective on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Finally, TD Cowen raised their price target on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a report on Thursday, May 29th. One 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 MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average target price of $181.22.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $173.50 on Friday. 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 1 year low of $86.62 and a 1 year high of $174.72. The stock's 50 day simple moving average is $150.95 and its two-hundred day simple moving average is $130.93. The company has a market cap of $4.23 trillion, a price-to-earnings ratio of 55.97, a PEG ratio of 1.53 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released 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 during 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 business's revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.61 EPS. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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 dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend 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.

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