Weatherly Asset Management L. P. Sells 2,535 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Key Points

• Weatherly Asset Management L. P. reduced its stake in NVIDIA Corporation by 1.7%, now holding 147,831 shares valued at approximately $16 million.
• Despite the reduction, several other institutional investors have increased their stakes in NVIDIA, with a notable increase of 20.6% by Variant Private Wealth LLC.
• NVIDIA's stock currently has a consensus rating of "Moderate Buy" with a projected price target of $183.75, reflecting confidence among analysts.

Weatherly Asset Management L. P. lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 1.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 147,831 shares of the computer hardware maker's stock after selling 2,535 shares during the quarter. NVIDIA accounts for approximately 1.4% of Weatherly Asset Management L. P.'s holdings, making the stock its 19th largest holding. Weatherly Asset Management L. P.'s holdings in NVIDIA were worth $16,023,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its position in NVIDIA by 12.4% during the fourth 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. Bank Pictet & Cie Europe AG lifted its position in NVIDIA by 1.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker's stock valued at $315,100,000 after acquiring an additional 22,929 shares in the last quarter. Highview Capital Management LLC DE boosted its stake in NVIDIA by 6.7% during the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker's stock valued at $7,842,000 after purchasing an additional 3,653 shares during the last quarter. Hudson Value Partners LLC increased its holdings in NVIDIA by 30.7% during the 4th quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker's stock worth $6,805,000 after purchasing an additional 11,900 shares in the last quarter. Finally, E Fund Management Co. Ltd. raised its stake in shares of NVIDIA by 45.2% in the fourth quarter. E Fund Management Co. Ltd. now owns 885,764 shares of the computer hardware maker's stock worth $118,949,000 after purchasing an additional 275,898 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analyst Weigh In

NVDA has been the subject of several analyst reports. Raymond James Financial increased their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research note on Thursday, May 29th. DA Davidson increased their target price on shares of NVIDIA from $120.00 to $135.00 and gave the stock a "neutral" rating in a research note on Thursday, May 29th. Jefferies Financial Group raised their price objective on shares of NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Wedbush restated an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Bank of America raised their price objective on shares of NVIDIA from $180.00 to $220.00 in a research report on Wednesday, July 16th. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $183.75.

NVIDIA Price Performance

NVDA stock traded down $0.64 during trading on Monday, reaching $182.06. The company's stock had a trading volume of 138,011,711 shares, compared to its average volume of 244,601,375. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.88. 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 company has a market capitalization of $4.44 trillion, a P/E ratio of 58.73, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. The company's fifty day moving average is $159.82 and its 200-day moving average is $133.62.

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 analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA's revenue was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 EPS. On average, research analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed 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 0.0%. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the sale, the director owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,687,440 shares of company stock worth $862,095,782 over the last three months. 4.17% of the stock is owned by company insiders.

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.