Tradewinds LLC. Trims Stake in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Tradewinds LLC reduced its stake in NVIDIA by 4.9%, holding 147,367 shares worth approximately $15.97 million.
• Insiders, including Director Tench Coxe and CEO Jen Hsun Huang, sold substantial shares recently, indicating a decrease in their ownership positions.
• Wall Street analysts have mixed views on NVIDIA, with 33 analysts rating it as a buy and price targets ranging up to $200.

Tradewinds LLC. decreased its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 4.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,367 shares of the computer hardware maker's stock after selling 7,533 shares during the quarter. NVIDIA makes up approximately 4.5% of Tradewinds LLC.'s portfolio, making the stock its 2nd largest holding. Tradewinds LLC.'s holdings in NVIDIA were worth $15,972,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in NVIDIA during the fourth quarter worth $43,515,504,000. GAMMA Investing LLC boosted its stake in NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock worth $5,293,039,000 after buying an additional 48,439,859 shares in the last quarter. Northern Trust Corp boosted its stake in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after buying an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC boosted its stake in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after buying an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock worth $3,864,026,000 after buying an additional 23,948,733 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NVDA shares. Oppenheimer boosted their target price on shares of NVIDIA from $175.00 to $200.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Phillip Securities upgraded shares of NVIDIA from a "moderate buy" rating to a "strong-buy" rating in a research note on Monday, July 14th. Bank of America boosted their target price on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Jefferies Financial Group upped their price target on shares of NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Finally, Mizuho set a $192.00 price target on shares of NVIDIA and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $182.03.

NVIDIA Trading Down 2.3%

NVDA traded down $4.15 during trading on Friday, hitting $173.72. The company's stock had a trading volume of 203,669,565 shares, compared to its average volume of 153,436,048. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $183.30. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The stock's fifty day moving average price is $155.30 and its 200-day moving average price is $132.32. The firm has a market capitalization of $4.24 trillion, a P/E ratio of 56.04, a PEG ratio of 1.57 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the firm posted $0.61 earnings per share. NVIDIA's quarterly revenue was up 69.2% compared to the same quarter last year. Analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Insider Activity

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $178.74, for a total transaction of $13,405,500.00. Following the completion of the sale, the chief executive officer owned 73,748,225 shares in the company, valued at approximately $13,181,757,736.50. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director A Brooke Seawell sold 48,792 shares of the company's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the sale, the director owned 1,729,478 shares of the company's stock, valued at $283,565,212.88. This trade represents a 2.74% 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 worth $800,141,003 over the last quarter. 4.17% of the stock is currently owned by corporate insiders.

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.