Milestone Asset Management LLC Cuts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Milestone Asset Management LLC cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 21.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,236 shares of the computer hardware maker’s stock after selling 14,727 shares during the quarter. NVIDIA makes up approximately 1.3% of Milestone Asset Management LLC’s holdings, making the stock its 14th largest holding. Milestone Asset Management LLC’s holdings in NVIDIA were worth $5,878,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. FMR LLC boosted its position in NVIDIA by 0.7% during the 4th 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 lifted its holdings 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 valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in NVIDIA by 0.9% in the 4th 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 acquiring an additional 3,721,331 shares during the last quarter. Norges Bank purchased a new position in NVIDIA in the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp raised its holdings in NVIDIA by 15.8% in 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 acquiring an additional 36,266,817 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, June 9th. The shares were 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 of the company’s stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Aarti S. Shah sold 20,000 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. The trade was a 27.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,560,845 shares of company stock worth $360,351,849. Company insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $145.00 on Friday. The firm has a market cap of $3.54 trillion, a price-to-earnings ratio of 57.06, a PEG ratio of 1.76 and a beta of 2.12. The company’s 50 day moving average is $121.86 and its 200 day moving average is $126.41. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion during 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%. NVIDIA’s revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the business earned $0.61 earnings per share. On average, sell-side analysts anticipate 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 paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 1.29%.

Analysts Set New Price Targets

A number of brokerages have weighed in on NVDA. Raymond James boosted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 29th. Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. DA Davidson increased their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Finally, Rosenblatt Securities increased their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, May 29th. 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, the stock currently has an average rating of “Moderate Buy” and an average price target 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.