Synergy Asset Management LLC Has $31.92 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Synergy Asset Management LLC cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 48.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 294,490 shares of the computer hardware maker's stock after selling 274,208 shares during the period. NVIDIA makes up about 4.0% of Synergy Asset Management LLC's portfolio, making the stock its 5th biggest holding. Synergy Asset Management LLC's holdings in NVIDIA were worth $31,917,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BCR Wealth Strategies LLC boosted its position in NVIDIA by 3.1% during the 4th quarter. BCR Wealth Strategies LLC now owns 2,919 shares of the computer hardware maker's stock valued at $391,000 after acquiring an additional 89 shares in the last quarter. Condor Capital Management boosted its position in NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after acquiring an additional 89 shares in the last quarter. Squire Investment Management Company LLC boosted its position in NVIDIA by 4.0% during the 4th quarter. Squire Investment Management Company LLC now owns 2,360 shares of the computer hardware maker's stock valued at $317,000 after acquiring an additional 91 shares in the last quarter. Kelly Financial Services LLC boosted its position in NVIDIA by 2.0% during the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock valued at $513,000 after acquiring an additional 94 shares in the last quarter. Finally, Macroview Investment Management LLC boosted its position in NVIDIA by 2.9% during the 4th quarter. Macroview Investment Management LLC now owns 3,434 shares of the computer hardware maker's stock valued at $461,000 after acquiring an additional 96 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

NASDAQ NVDA opened at $164.10 on Friday. The stock has a 50-day simple moving average of $140.52 and a two-hundred day simple moving average of $128.60. The firm has a market capitalization of $4.00 trillion, a P/E ratio of 52.94, a PEG ratio of 1.44 and a beta of 2.13. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $164.50. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for 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%. The business's quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. On average, equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders 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 dividend yield of 0.02%. NVIDIA's payout ratio is currently 1.29%.

Insiders Place Their Bets

In related news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,520,246 shares of company stock worth $660,253,045 in the last 90 days. 4.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday, May 29th. Piper Sandler reaffirmed an "overweight" rating and set a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Loop Capital increased their target price on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. William Blair reaffirmed an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. Finally, Benchmark reissued a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $177.03.

NVIDIA 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.

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