Sigma Investment Counselors Inc. Sells 13,906 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Sigma Investment Counselors Inc. reduced its stake in NVIDIA Corporation by 7.4%, owning 173,014 shares valued at approximately $18.75 million, thus making it the 22nd largest holding in their portfolio.
• NVIDIA reported lower-than-expected earnings with $0.81 EPS, missing estimates by $0.06, despite a significant year-over-year revenue increase of 69.2% to $44.06 billion.
• Analysts have set a consensus price target for NVIDIA at $182.03, with numerous firms upgrading their price targets, reflecting a generally positive outlook on the stock.

Sigma Investment Counselors Inc. decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 7.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 173,014 shares of the computer hardware maker's stock after selling 13,906 shares during the period. NVIDIA comprises about 1.1% of Sigma Investment Counselors Inc.'s investment portfolio, making the stock its 22nd biggest holding. Sigma Investment Counselors Inc.'s holdings in NVIDIA were worth $18,751,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NVDA. Wealth Group Ltd. increased its stake in NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after acquiring an additional 100 shares during the last quarter. Tallon Kerry Patrick acquired a new stake in shares of NVIDIA in the 4th quarter worth $972,000. Brighton Jones LLC raised its stake in NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock worth $43,631,000 after acquiring an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG grew its position in shares of NVIDIA by 1.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock valued at $315,100,000 after acquiring an additional 22,929 shares during the period. Finally, Highview Capital Management LLC DE boosted its holdings in NVIDIA by 6.7% in the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock worth $7,842,000 after buying an additional 3,653 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Performance

NVDA traded up $6.28 on Monday, reaching $180.00. 147,497,317 shares of the stock were exchanged, compared to its average volume of 248,133,797. The firm has a market capitalization of $4.39 trillion, a PE ratio of 58.06, a PEG ratio of 1.53 and a beta of 2.14. The company's 50-day moving average price is $155.30 and its 200 day moving average price is $132.28. 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 fifty-two week low of $86.62 and a fifty-two week high of $183.30.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly 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). The company had revenue of $44.06 billion during the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the company earned $0.61 earnings per share. As a group, sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend 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 Activity at NVIDIA

In related news, CFO Colette Kress sold 20,000 shares of NVIDIA stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $170.88, for a total transaction of $3,417,600.00. Following the transaction, the chief financial officer owned 163,060 shares in the company, valued at approximately $27,863,692.80. The trade was a 10.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $178.74, for a total transaction of $13,405,500.00. Following the sale, the chief executive officer directly owned 73,748,225 shares of the company's stock, valued at approximately $13,181,757,736.50. This represents a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,339,800 shares of company stock valued at $800,141,003 over the last ninety days. 4.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of several analyst reports. Raymond James Financial lifted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. Wedbush reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Citigroup increased their price target on shares of NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Piper Sandler reiterated an "overweight" rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Finally, Jefferies Financial Group lifted their price target on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and a consensus price target of $182.03.

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.