Ables Iannone Moore & Associates Inc. Sells 2,314 Shares of NVIDIA Co. (NASDAQ:NVDA)

Ables Iannone Moore & Associates Inc. lowered its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.8% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 127,743 shares of the computer hardware maker’s stock after selling 2,314 shares during the quarter. NVIDIA accounts for about 9.4% of Ables Iannone Moore & Associates Inc.’s investment portfolio, making the stock its 3rd largest position. Ables Iannone Moore & Associates Inc.’s holdings in NVIDIA were worth $13,845,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $43,515,504,000. GAMMA Investing LLC grew its holdings 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 worth $5,293,039,000 after purchasing an additional 48,439,859 shares in the last quarter. Northern Trust Corp grew its holdings 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 worth $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $2,987,733,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Wedbush reissued an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Mizuho lifted their price objective on NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. Needham & Company LLC reissued a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. UBS Group restated a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Finally, KeyCorp set a $190.00 target price on NVIDIA in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $171.66.

Insider Buying and Selling at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director now directly owns 26,671,360 shares in the company, valued at $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 190,000 shares of the business’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.51, for a total value of $27,076,900.00. Following the completion of the sale, the director now owns 8,855,848 shares in the company, valued at approximately $1,262,046,898.48. This trade represents a 2.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,614,169 shares of company stock valued at $366,510,238. Company insiders own 4.17% of the company’s stock.

NVIDIA Stock Up 0.9%

NASDAQ NVDA opened at $143.96 on Wednesday. The stock has a fifty day moving average of $119.94 and a 200-day moving average of $126.23. The stock has a market capitalization of $3.51 trillion, a P/E ratio of 56.65, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company 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 earnings per share. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. On average, equities research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is 1.29%.

About NVIDIA

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.