NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Avondale Wealth Management

Avondale Wealth Management decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 2.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,930 shares of the computer hardware maker’s stock after selling 450 shares during the quarter. NVIDIA accounts for about 1.4% of Avondale Wealth Management’s investment portfolio, making the stock its 15th largest holding. Avondale Wealth Management’s holdings in NVIDIA were worth $2,160,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. FMR LLC grew its position in NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its position in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after buying an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after buying an additional 3,721,331 shares in the last quarter. Norges Bank acquired a new stake in shares of NVIDIA during the fourth quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp grew its position in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after buying an additional 36,266,817 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. KeyCorp set a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and set a $160.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. William Blair reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Barclays reissued an “overweight” rating and set a $170.00 price target (up previously from $155.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Hsbc Global Res cut NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $171.66.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares of the company’s stock, valued at $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 transaction, the director now directly owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,614,169 shares of company stock worth $366,510,238 over the last ninety days. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $143.96 on Wednesday. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The firm’s 50-day simple moving average is $119.94 and its 200 day simple moving average is $126.23. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.51 trillion, a P/E ratio of 56.65, a P/E/G ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) 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 net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. Equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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