Rockingstone Advisors LLC Sells 10,370 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Rockingstone Advisors LLC lowered its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 16.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 54,255 shares of the computer hardware maker's stock after selling 10,370 shares during the period. NVIDIA accounts for approximately 2.6% of Rockingstone Advisors LLC's holdings, making the stock its 4th biggest holding. Rockingstone Advisors LLC's holdings in NVIDIA were worth $5,880,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Tacita Capital Inc acquired a new position in NVIDIA in the fourth quarter worth $28,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA during the 4th quarter valued at about $38,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA during the fourth quarter worth about $40,000. Copia Wealth Management acquired a new stake in NVIDIA during the fourth quarter worth about $50,000. Finally, LSV Asset Management bought a new position in NVIDIA in the fourth quarter worth about $54,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Activity

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of NVIDIA stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the transaction, the director now owns 201,044 shares of the company's stock, valued at $27,104,752.08. The trade was a 19.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director now directly owns 26,671,360 shares of the company's stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,393,863 shares of company stock worth $483,709,832 over the last 90 days. 4.17% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays increased their price target on NVIDIA from $170.00 to $200.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 17th. Susquehanna restated a "positive" rating and set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Citigroup reaffirmed a "buy" rating and issued a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a report on Thursday, May 29th. Arete Research raised shares of NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Finally, KeyCorp set a $190.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of "Moderate Buy" and an average price target of $175.78.

NVIDIA Price Performance

NVDA stock traded up $6.41 on Wednesday, hitting $154.31. 265,323,485 shares of the company's stock traded hands, compared to its average volume of 270,605,978. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $154.98. The stock has a market cap of $3.77 trillion, a price-to-earnings ratio of 49.78, a P/E/G ratio of 1.27 and a beta of 2.12. The stock has a fifty day moving average of $127.76 and a 200-day moving average of $126.59. 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 released its quarterly earnings data 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 company had revenue of $44.06 billion for 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 prior year, the business earned $0.61 earnings per share. On average, analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's payout ratio is 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.