Douglas Lane & Associates LLC Sells 84,056 Shares of NVIDIA Co. (NASDAQ:NVDA)

Douglas Lane & Associates LLC lowered its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,943,995 shares of the computer hardware maker’s stock after selling 84,056 shares during the quarter. NVIDIA accounts for about 3.1% of Douglas Lane & Associates LLC’s investment portfolio, making the stock its largest position. Douglas Lane & Associates LLC’s holdings in NVIDIA were worth $210,690,000 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. DiNuzzo Private Wealth Inc. raised its position in shares of NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after acquiring an additional 71 shares during the last quarter. Baker Boyer National Bank raised its position in shares of NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after acquiring an additional 76 shares during the last quarter. SC&H Financial Advisors Inc. raised its position in shares of NVIDIA by 1.6% during the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker’s stock worth $681,000 after acquiring an additional 80 shares during the last quarter. DecisionPoint Financial LLC raised its position in shares of NVIDIA by 2.9% during the fourth quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker’s stock worth $386,000 after acquiring an additional 80 shares during the last quarter. Finally, Matthew Goff Investment Advisor LLC lifted its stake in NVIDIA by 0.7% in the fourth quarter. Matthew Goff Investment Advisor LLC now owns 11,496 shares of the computer hardware maker’s stock valued at $1,544,000 after buying an additional 84 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now owns 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. The trade was a 27.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,560,845 shares of company stock valued at $360,351,849. 4.17% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on NVDA. KeyCorp set a $190.00 target price on NVIDIA in a research report on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. Rosenblatt Securities increased their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Finally, UBS Group restated a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $172.24.

NVIDIA Stock Down 0.8%

NASDAQ:NVDA opened at $142.83 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market cap of $3.49 trillion, a PE ratio of 56.21, a PEG 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 stock has a 50-day simple moving average of $120.91 and a 200 day simple moving average of $126.34.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period last year, the company posted $0.61 earnings per share. On average, sell-side analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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