Washburn Capital Management Inc. Has $3.78 Million Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Washburn Capital Management Inc. trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 25.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,839 shares of the computer hardware maker's stock after selling 11,648 shares during the quarter. NVIDIA makes up 2.1% of Washburn Capital Management Inc.'s holdings, making the stock its 5th biggest position. Washburn Capital Management Inc.'s holdings in NVIDIA were worth $3,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Norges Bank purchased a new stake in shares of NVIDIA during the 4th quarter valued at approximately $43,515,504,000. GAMMA Investing LLC lifted its stake in shares of NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker's stock valued at $5,293,039,000 after buying an additional 48,439,859 shares in the last quarter. Northern Trust Corp lifted its stake in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of NVIDIA by 204.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker's stock valued at $3,864,026,000 after buying an additional 23,948,733 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of NVIDIA during the 4th quarter valued at approximately $2,987,733,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm's stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total value of $13,603,500.00. Following the completion of the sale, the chief executive officer directly owned 72,998,225 shares of the company's stock, valued at approximately $13,240,418,050.50. This trade represents a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 27,640 shares of the firm's stock in a transaction dated Monday, August 4th. The stock was sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares of the company's stock, valued at approximately $526,501,340.56. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,837,440 shares of company stock valued at $889,404,782. Corporate insiders own 4.17% of the company's stock.

NVIDIA Trading Down 0.9%

Shares of NVDA opened at $180.45 on Friday. The stock has a market capitalization of $4.40 trillion, a P/E ratio of 58.21, a PEG ratio of 1.60 and a beta of 2.14. 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 firm has a fifty day simple moving average of $163.96 and a two-hundred day simple moving average of $135.36. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly 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). The firm 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 company's quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 EPS. On average, research 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. Stockholders of record on Wednesday, June 11th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is currently 1.29%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVDA. Wells Fargo & Company upped their price target on shares of NVIDIA from $185.00 to $220.00 and gave the company an "overweight" rating in a research note on Monday, August 11th. 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 note on Thursday, May 29th. Truist Financial increased their target price on shares of NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. Bank of America increased their target price on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Finally, Piper Sandler set a $225.00 target price on shares of NVIDIA and gave the stock an "overweight" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $186.33.

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.

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