Wolff Wiese Magana LLC Lowers Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Wolff Wiese Magana LLC decreased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,110 shares of the computer hardware maker's stock after selling 4,649 shares during the period. NVIDIA makes up 3.3% of Wolff Wiese Magana LLC's portfolio, making the stock its biggest position. Wolff Wiese Magana LLC's holdings in NVIDIA were worth $4,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. GSB Wealth Management LLC grew its stake in shares of NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker's stock worth $3,534,000 after purchasing an additional 1,043 shares during the last quarter. Variant Private Wealth LLC grew its stake in shares of NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker's stock worth $2,038,000 after purchasing an additional 3,206 shares during the last quarter. Financial Perspectives Inc grew its stake in shares of NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker's stock worth $4,981,000 after purchasing an additional 1,265 shares during the last quarter. Hickory Point Bank & Trust acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $2,272,000. Finally, Pegasus Asset Management Inc. boosted its holdings in shares of NVIDIA by 0.3% in the first quarter. Pegasus Asset Management Inc. now owns 76,750 shares of the computer hardware maker's stock worth $8,318,000 after buying an additional 197 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NVDA. Hsbc Global Res downgraded shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Needham & Company LLC reissued a "buy" rating and issued a $160.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. UBS Group reissued a "buy" rating on shares of NVIDIA in a research report on Friday, May 23rd. TD Cowen lifted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock a "buy" rating in a research report on Thursday, May 29th. Finally, Wedbush reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $177.03.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the company's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,520,246 shares of company stock valued at $660,253,045 in the last 90 days. 4.17% of the stock is owned by company insiders.

NVIDIA Stock Performance

Shares of NVIDIA stock traded up $0.82 on Friday, reaching $164.92. The stock had a trading volume of 193,205,730 shares, compared to its average volume of 265,988,678. The business's 50-day moving average price is $141.53 and its two-hundred day moving average price is $128.77. 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 Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $167.89. The stock has a market cap of $4.02 trillion, a P/E ratio of 53.20, a price-to-earnings-growth ratio of 1.45 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. NVIDIA's quarterly revenue was up 69.2% compared to the same quarter last year. On average, sell-side analysts forecast 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. Investors of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA's payout ratio is currently 1.29%.

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.