Sharpepoint LLC Sells 3,166 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Sharpepoint LLC cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 32,067 shares of the computer hardware maker's stock after selling 3,166 shares during the quarter. NVIDIA accounts for 3.1% of Sharpepoint LLC's portfolio, making the stock its 6th largest position. Sharpepoint LLC's holdings in NVIDIA were worth $3,496,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of NVDA. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the fourth quarter worth $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the fourth quarter worth $38,000. Copia Wealth Management acquired a new stake in shares of NVIDIA in the fourth quarter worth $50,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of NVIDIA in the first quarter worth $51,000. Finally, Bruce G. Allen Investments LLC boosted its position in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after purchasing an additional 327 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on NVDA shares. Loop Capital lifted their price objective on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Needham & Company LLC lifted their price objective on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a research report on Wednesday, July 16th. Benchmark reissued a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Mizuho set a $192.00 price objective on NVIDIA and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Finally, DA Davidson lifted their price objective on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of "Moderate Buy" and an average target price of $182.03.

NVIDIA Stock Performance

NVDA traded down $1.74 on Tuesday, hitting $178.26. 155,486,898 shares of the stock traded hands, compared to its average volume of 164,064,272. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.30. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $4.35 trillion, a PE ratio of 57.50, a P/E/G ratio of 1.59 and a beta of 2.14. The business has a fifty day moving average price of $156.27 and a two-hundred day moving average price of $132.58.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. The company's revenue was up 69.2% on a year-over-year basis. On average, research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued 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 presently 1.29%.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $178.16, for a total transaction of $13,362,000.00. Following the sale, the chief executive officer directly owned 73,523,225 shares of the company's stock, valued at approximately $13,098,897,766. The trade was a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at $510,023,939.24. The trade was a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,489,800 shares of company stock worth $826,553,003 over the last ninety days. Company insiders own 4.17% of the company's stock.

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.