Trail Ridge Investment Advisors LLC Cuts Stake in NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Trail Ridge Investment Advisors LLC reduced its stake in NVIDIA Corporation by 13.1%, holding 37,809 shares after selling 5,720 shares in the 1st quarter, which now represents 2.1% of its portfolio.
• NVIDIA received several analyst upgrades, with price targets raised from $160.00 to $250.00 and a consensus rating of "Moderate Buy," indicating strong investor confidence.
• Insider sales included CFO Colette Kress selling 27,640 shares for $4.9 million, and CEO Jen Hsun Huang selling 75,000 shares for $13.7 million, reflecting a slight decrease in their ownership stakes.

Trail Ridge Investment Advisors LLC lowered its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 13.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,809 shares of the computer hardware maker's stock after selling 5,720 shares during the quarter. NVIDIA makes up 2.1% of Trail Ridge Investment Advisors LLC's portfolio, making the stock its 11th biggest holding. Trail Ridge Investment Advisors LLC's holdings in NVIDIA were worth $4,098,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in NVDA. Condor Capital Management lifted its stake in shares of NVIDIA by 3.6% in the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker's stock valued at $344,000 after purchasing an additional 89 shares during the last quarter. High Note Wealth LLC lifted its stake in shares of NVIDIA by 0.5% during the 1st quarter. High Note Wealth LLC now owns 17,873 shares of the computer hardware maker's stock worth $1,937,000 after acquiring an additional 91 shares during the last quarter. Kelly Financial Services LLC lifted its stake in shares of NVIDIA by 2.0% during the 1st quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker's stock worth $513,000 after acquiring an additional 94 shares during the last quarter. Mendel Capital Management LLC lifted its stake in shares of NVIDIA by 0.8% during the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker's stock worth $1,287,000 after acquiring an additional 96 shares during the last quarter. Finally, Wallace Hart LLC lifted its stake in shares of NVIDIA by 3.9% during the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker's stock worth $349,000 after acquiring an additional 97 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on NVDA shares. Mizuho set a $192.00 price objective on NVIDIA and gave the stock an "outperform" rating in a report on Tuesday, July 15th. Needham & Company LLC lifted their price target on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. BNP Paribas upgraded NVIDIA to a "hold" rating in a report on Friday, August 1st. Rosenblatt Securities lifted their price target on NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a report on Thursday, May 29th. Finally, Loop Capital lifted their price target on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $183.75.

Insider Buying and Selling

In other news, CFO Colette Kress sold 27,640 shares of the company's stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $178.06, for a total value of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at $526,501,340.56. This represents a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $182.38, for a total value of $13,678,500.00. Following the completion of the transaction, the chief executive officer owned 73,223,225 shares of the company's stock, valued at $13,354,451,775.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,687,440 shares of company stock valued at $862,095,782 over the last 90 days. Company insiders own 4.17% of the company's stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $182.67 on Monday. The stock has a market capitalization of $4.46 trillion, a price-to-earnings ratio of 58.93, a PEG ratio of 1.61 and a beta of 2.14. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $183.88. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average of $159.82 and a 200 day moving average of $133.62.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS 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 firm had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same quarter last year, the firm posted $0.61 earnings per share. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. Sell-side analysts anticipate 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. Stockholders of record on Wednesday, June 11th were given a $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA's dividend payout ratio is 1.29%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.