NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Summa Corp.

Summa Corp. decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 784,723 shares of the computer hardware maker's stock after selling 25,837 shares during the period. NVIDIA comprises 49.2% of Summa Corp.'s portfolio, making the stock its largest holding. Summa Corp.'s holdings in NVIDIA were worth $85,048,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. SC&H Financial Advisors Inc. increased its holdings in NVIDIA by 1.6% in the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock valued at $681,000 after buying an additional 80 shares during the period. DecisionPoint Financial LLC increased its stake in NVIDIA by 2.9% in the fourth quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock valued at $386,000 after acquiring an additional 80 shares during the period. BCR Wealth Strategies LLC raised its position in NVIDIA by 3.1% in the fourth quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock worth $391,000 after purchasing an additional 89 shares in the last quarter. Condor Capital Management lifted its stake in NVIDIA by 3.6% during the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock worth $344,000 after purchasing an additional 89 shares during the period. Finally, Squire Investment Management Company LLC boosted its holdings in NVIDIA by 4.0% during the fourth quarter. Squire Investment Management Company LLC now owns 2,360 shares of the computer hardware maker's stock valued at $317,000 after purchasing an additional 91 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of several analyst reports. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. Morgan Stanley restated an "overweight" rating and issued a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. TD Cowen increased their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Summit Insights raised shares of NVIDIA from a "hold" rating to a "buy" rating in a research note on Thursday, May 29th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company's stock. According to MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and an average price target of $176.47.

NVIDIA Stock Down 0.7%

Shares of NASDAQ:NVDA traded down $1.10 during trading on Monday, hitting $158.24. 139,752,171 shares of the company's stock traded hands, compared to its average volume of 267,843,050. The company has a market cap of $3.86 trillion, a price-to-earnings ratio of 51.05, a price-to-earnings-growth ratio of 1.41 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $160.98. The company has a 50-day moving average price of $136.38 and a 200-day moving average price of $127.81.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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 firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business's revenue was up 69.2% on a year-over-year basis. During the same period last year, the business earned $0.61 EPS. As a group, research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio is currently 1.29%.

Insider Buying and Selling

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction on Monday, June 30th. The stock was sold at an average price of $157.53, for a total value of $11,814,750.00. Following the completion of the transaction, the chief executive officer directly owned 75,323,225 shares of the company's stock, valued at $11,865,667,634.25. The trade was a 0.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the sale, the executive vice president directly owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,044,919 shares of company stock valued at $584,414,209. Insiders own 4.17% of the company's stock.

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.