Sand Hill Global Advisors LLC Trims Position in NVIDIA Co. (NASDAQ:NVDA)

Sand Hill Global Advisors LLC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,963 shares of the computer hardware maker’s stock after selling 2,516 shares during the quarter. NVIDIA accounts for about 0.7% of Sand Hill Global Advisors LLC’s portfolio, making the stock its 22nd largest holding. Sand Hill Global Advisors LLC’s holdings in NVIDIA were worth $12,489,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. United Bank increased its holdings in shares of NVIDIA by 28.9% during the 1st quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock valued at $2,106,000 after purchasing an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of NVIDIA by 6.8% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after purchasing an additional 249,045 shares in the last quarter. MAS Advisors LLC grew its stake in NVIDIA by 42.1% in the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after acquiring an additional 583 shares during the period. Navis Wealth Advisors LLC grew its stake in NVIDIA by 205.3% in the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after acquiring an additional 1,950 shares during the period. Finally, Ergoteles LLC acquired a new stake in NVIDIA in the 1st quarter valued at $929,000. 64.79% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 1.4 %

Shares of NASDAQ:NVDA opened at $455.72 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37. The firm has a market capitalization of $1.13 trillion, a PE ratio of 110.08, a price-to-earnings-growth ratio of 3.77 and a beta of 1.74. The firm’s 50-day moving average is $452.59 and its two-hundred day moving average is $357.13. NVIDIA Co. has a 1 year low of $108.13 and a 1 year high of $502.66.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The firm had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same period in the prior year, the firm earned $0.32 earnings per share. The business’s quarterly revenue was up 101.5% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 9.24 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 7th will be paid a dividend of $0.04 per share. The ex-dividend date of this dividend is Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s payout ratio is 3.86%.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research analyst reports. Sanford C. Bernstein lifted their price target on shares of NVIDIA from $300.00 to $475.00 in a research note on Thursday, May 25th. Daiwa Capital Markets raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $408.00 to $475.00 in a research note on Thursday, June 29th. Argus lifted their price target on shares of NVIDIA from $450.00 to $600.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. BNP Paribas raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 target price on the stock in a research note on Thursday, August 24th. Finally, Mizuho lifted their target price on shares of NVIDIA from $530.00 to $590.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $555.70.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $486.40, for a total transaction of $14,440,243.20. Following the sale, the chief executive officer now directly owns 7,800,125 shares in the company, valued at $3,793,980,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Harvey C. Jones sold 119,795 shares of the company’s stock in a transaction that occurred on Tuesday, June 13th. The stock was sold at an average price of $403.17, for a total value of $48,297,750.15. Following the completion of the transaction, the director now directly owns 676,396 shares of the company’s stock, valued at $272,702,575.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $486.40, for a total value of $14,440,243.20. Following the completion of the transaction, the chief executive officer now directly owns 7,800,125 shares of the company’s stock, valued at $3,793,980,800. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 324,536 shares of company stock worth $140,336,278. Company insiders own 3.99% of the company’s stock.

NVIDIA Profile

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.