Saturna Capital Corp Sells 3,054 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Saturna Capital Corp cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 0.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,322,471 shares of the computer hardware maker's stock after selling 3,054 shares during the quarter. NVIDIA accounts for 3.8% of Saturna Capital Corp's portfolio, making the stock its 6th biggest holding. Saturna Capital Corp's holdings in NVIDIA were worth $251,709,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Condor Capital Management boosted its position in shares of NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after acquiring an additional 89 shares in the last quarter. High Note Wealth LLC boosted its holdings in NVIDIA by 0.5% during the first quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker's stock valued at $1,937,000 after purchasing an additional 91 shares in the last quarter. Kelly Financial Services LLC boosted its holdings in NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after purchasing an additional 94 shares in the last quarter. Mendel Capital Management LLC boosted its holdings in NVIDIA by 0.8% during the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock valued at $1,287,000 after purchasing an additional 96 shares in the last quarter. Finally, Affiance Financial LLC boosted its holdings in NVIDIA by 0.7% during the first quarter. Affiance Financial LLC now owns 13,651 shares of the computer hardware maker's stock valued at $1,479,000 after purchasing an additional 97 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. TD Cowen boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Benchmark restated a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. Truist Financial boosted their target price on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. The Goldman Sachs Group began coverage on NVIDIA in a report on Thursday, July 10th. They issued a "buy" rating and a $185.00 target price on the stock. Finally, Oppenheimer boosted their price objective on NVIDIA from $175.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and an average target price of $186.33.

NVIDIA Stock Performance

Shares of NVDA stock opened at $182.02 on Friday. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $184.48. 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's 50 day moving average price is $163.18 and its two-hundred day moving average price is $135.00. The company has a market capitalization of $4.44 trillion, a P/E ratio of 58.72, a price-to-earnings-growth ratio of 1.60 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results 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). 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 analyst estimates of $43.09 billion. During the same period in the prior year, the business posted $0.61 EPS. The firm's quarterly revenue was up 69.2% compared to the same quarter last year. On average, analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the sale, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,837,440 shares of company stock worth $889,404,782 in the last three months. 4.17% of the stock is owned by corporate insiders.

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.

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