NVIDIA Corporation (NASDAQ:NVDA) Stake Reduced by Stratos Wealth Partners LTD.

Key Points

• Stratos Wealth Partners LTD. reduced its holdings in NVIDIA Corporation by 5.7%, owning 1,110,655 shares valued at approximately $120.37 million.
• NVIDIA reported a **Q1 EPS of $0.81**, missing the analysts' consensus estimate of $0.87, although its revenue increased **69.2% year-over-year** to **$44.06 billion**.
• Equity analysts have set new target prices for NVIDIA, with notable increases to **$200.00** from Jefferies Financial Group and **$220.00** from Bank of America, indicating a **strong-buy** rating from several analysts.

Stratos Wealth Partners LTD. trimmed its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 5.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,110,655 shares of the computer hardware maker's stock after selling 66,641 shares during the period. NVIDIA makes up approximately 1.8% of Stratos Wealth Partners LTD.'s holdings, making the stock its 6th biggest holding. Stratos Wealth Partners LTD.'s holdings in NVIDIA were worth $120,373,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Tacita Capital Inc bought a new position in shares of NVIDIA in the fourth quarter valued at $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA in the fourth quarter valued at about $38,000. Copia Wealth Management bought a new position in NVIDIA in the fourth quarter valued at about $50,000. Barnes Dennig Private Wealth Management LLC bought a new position in NVIDIA in the first quarter valued at about $51,000. Finally, Bruce G. Allen Investments LLC grew its holdings in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock worth $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

NVDA has been the topic of a number of recent analyst reports. Oppenheimer lifted 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. DA Davidson raised their target price on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Raymond James Financial increased their price target on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. Loop Capital raised their target price on NVIDIA from $175.00 to $250.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Finally, The Goldman Sachs Group initiated coverage on NVIDIA in a report on Thursday, July 10th. They issued a "buy" rating and a $185.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $182.03.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 168,195 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director directly owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. 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 in the last ninety days. Corporate insiders own 4.17% of the company's stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA traded down $1.74 during trading on Tuesday, hitting $178.26. 152,547,273 shares of the company's stock were exchanged, compared to its average volume of 247,397,078. 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 52-week low of $86.62 and a 52-week high of $183.30. The business's 50-day simple moving average is $156.27 and its 200 day simple moving average is $132.58. The company has a market cap of $4.35 trillion, a price-to-earnings ratio of 57.50, a PEG ratio of 1.53 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results 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). 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 period in the previous year, the company posted $0.61 earnings per share. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

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.