Wealthstar Advisors LLC Trims Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Wealthstar Advisors LLC lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 40.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,500 shares of the computer hardware maker's stock after selling 7,768 shares during the period. Wealthstar Advisors LLC's holdings in NVIDIA were worth $1,246,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Wealth Group Ltd. lifted its position in NVIDIA by 1.8% during the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after acquiring an additional 100 shares during the period. Tallon Kerry Patrick bought a new stake in NVIDIA in the fourth quarter valued at about $972,000. Capital & Planning LLC grew its holdings in shares of NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock valued at $1,021,000 after purchasing an additional 1,099 shares during the last quarter. Ironwood Wealth Management LLC. boosted its position in shares of NVIDIA by 1.6% during the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock worth $871,000 after buying an additional 104 shares during the period. Finally, Brighton Jones LLC lifted its position in shares of NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker's stock valued at $43,631,000 after acquiring an additional 35,815 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Trading Down 2.5%

Shares of NVDA opened at $167.03 on Wednesday. The stock has a fifty day moving average price of $146.99 and a two-hundred day moving average price of $129.81. The company has a market cap of $4.08 trillion, a price-to-earnings ratio of 53.88, a PEG ratio of 1.51 and a beta of 2.13. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $174.25. 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 announced its quarterly earnings results 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the firm earned $0.61 EPS. NVIDIA's quarterly revenue was up 69.2% compared to the same quarter last year. Analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA's payout ratio is 1.29%.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction dated 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 owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,964,800 shares of company stock valued at $734,906,003 over the last 90 days. 4.17% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Truist Financial lifted their target price on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Citigroup raised their price target on shares of NVIDIA from $180.00 to $190.00 and gave the company a "buy" rating in a report on Monday, July 7th. Benchmark reaffirmed a "buy" rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. Bank of America boosted their price objective on shares of NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. Finally, DA Davidson upped their target price on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat, NVIDIA has a consensus rating of "Moderate Buy" and a consensus target price of $181.22.

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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