Terra Nova Asset Management LLC decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 54.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,614 shares of the computer hardware maker's stock after selling 17,482 shares during the period. Terra Nova Asset Management LLC's holdings in NVIDIA were worth $1,584,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Aspetuck Financial Management LLC acquired a new stake in shares of NVIDIA during the 1st quarter worth approximately $11,334,000. SOL Capital Management CO increased its holdings in NVIDIA by 26.9% in the 1st quarter. SOL Capital Management CO now owns 3,070 shares of the computer hardware maker's stock valued at $333,000 after purchasing an additional 650 shares during the last quarter. Pure Financial Advisors LLC increased its holdings in NVIDIA by 7.1% in the 1st quarter. Pure Financial Advisors LLC now owns 109,738 shares of the computer hardware maker's stock valued at $11,893,000 after purchasing an additional 7,293 shares during the last quarter. Lifelong Wealth Advisors Inc. grew its holdings in shares of NVIDIA by 3.7% in the first quarter. Lifelong Wealth Advisors Inc. now owns 3,529 shares of the computer hardware maker's stock valued at $382,000 after purchasing an additional 126 shares in the last quarter. Finally, Omnia Family Wealth LLC grew its holdings in shares of NVIDIA by 33.8% in the first quarter. Omnia Family Wealth LLC now owns 32,230 shares of the computer hardware maker's stock valued at $3,493,000 after purchasing an additional 8,148 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.
NVIDIA Price Performance
NVDA traded down $0.59 on Friday, hitting $172.41. 145,724,125 shares of the company were exchanged, compared to its average volume of 264,006,945. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The business's fifty day moving average is $145.88 and its 200 day moving average is $129.63. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $174.16. The firm has a market capitalization of $4.21 trillion, a P/E ratio of 55.62, a price-to-earnings-growth ratio of 1.51 and a beta of 2.13.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. The company's quarterly revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.
NVIDIA Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA's payout ratio is currently 1.29%.
Insider Activity at NVIDIA
In related news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on 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 transaction, the chief executive officer owned 75,548,225 shares of the company's stock, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,814,800 shares of company stock valued at $709,172,753. 4.17% of the stock is owned by corporate insiders.
Analyst Ratings Changes
NVDA has been the subject of several research reports. Mizuho set a $192.00 price target on shares of NVIDIA and gave the stock an "outperform" rating in a research note on Tuesday. William Blair restated an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Citigroup lifted their price objective on shares of NVIDIA from $180.00 to $190.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. The Goldman Sachs Group began coverage on shares of NVIDIA in a research report on Thursday, July 10th. They set a "buy" rating and a $185.00 price objective for the company. Finally, Hsbc Global Res cut shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. One analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company's stock. According to MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and an average price target of $181.22.
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About NVIDIA
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Free Report)
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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