NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Profit Investment Management LLC

Profit Investment Management LLC reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,726 shares of the computer hardware maker’s stock after selling 1,482 shares during the period. Profit Investment Management LLC’s holdings in NVIDIA were worth $1,488,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tacita Capital Inc purchased a new stake in NVIDIA in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the fourth quarter worth $38,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA in the fourth quarter worth $40,000. Copia Wealth Management acquired a new position in shares of NVIDIA in the fourth quarter worth $50,000. Finally, LSV Asset Management acquired a new position in shares of NVIDIA in the fourth quarter worth $54,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction dated 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 transaction, the director now directly owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. This trade represents a 27.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated 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 now directly owns 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,560,845 shares of company stock valued at $360,351,849 over the last ninety days. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $142.83 on Thursday. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The company has a market capitalization of $3.49 trillion, a price-to-earnings ratio of 56.21, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. The firm has a 50-day simple moving average of $120.91 and a 200-day simple moving average of $126.34. 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 posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 earnings per share. On average, equities research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.29%.

Analyst Ratings Changes

Several research firms have commented on NVDA. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. UBS Group restated a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Bank of America boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Finally, HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Thursday, April 3rd. One investment 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 stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $172.24.

NVIDIA Company 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.