SeaCrest Wealth Management LLC Reduces Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

SeaCrest Wealth Management LLC lessened its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 358,805 shares of the computer hardware maker's stock after selling 30,199 shares during the period. NVIDIA makes up 4.4% of SeaCrest Wealth Management LLC's holdings, making the stock its 2nd largest position. SeaCrest Wealth Management LLC's holdings in NVIDIA were worth $38,887,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVDA. Hickory Point Bank & Trust acquired a new position in shares of NVIDIA in the 4th quarter worth $2,272,000. BTC Capital Management Inc. grew its holdings in shares of NVIDIA by 2.3% in the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker's stock worth $35,785,000 after acquiring an additional 7,476 shares during the last quarter. Capital Performance Advisors LLP grew its holdings in shares of NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock worth $3,586,000 after acquiring an additional 9,944 shares during the last quarter. Waddell & Associates LLC boosted its position in shares of NVIDIA by 1.2% in the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock worth $3,240,000 after buying an additional 297 shares during the period. Finally, Strategy Asset Managers LLC boosted its position in shares of NVIDIA by 0.8% in the fourth quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock worth $7,024,000 after buying an additional 405 shares during the period. Institutional investors own 65.27% of the company's stock.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares in the company, valued at $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 190,000 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.51, for a total value of $27,076,900.00. Following the transaction, the director now owns 8,855,848 shares in the company, valued at $1,262,046,898.48. This represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,540,845 shares of company stock worth $357,983,449. Company insiders own 4.17% of the company's stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $145.48 on Thursday. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The business has a 50-day moving average of $124.96 and a two-hundred day moving average of $126.62. The stock has a market capitalization of $3.55 trillion, a P/E ratio of 46.93, a P/E/G ratio of 1.27 and a beta of 2.12. 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 (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business 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 company's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. On average, equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA's payout ratio is presently 1.29%.

Analyst Ratings Changes

NVDA has been the subject of several recent analyst reports. Rosenblatt Securities raised their target price on NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. DA Davidson raised their target price on NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research report on Thursday, May 29th. Bank of America raised their target price on NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Needham & Company LLC reaffirmed a "buy" rating and issued a $160.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and an average price target of $173.05.

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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