NVIDIA Co. (NASDAQ:NVDA) Position Reduced by Lmcg Investments LLC

Lmcg Investments LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 214,285 shares of the computer hardware maker’s stock after selling 9,587 shares during the quarter. NVIDIA accounts for 1.5% of Lmcg Investments LLC’s portfolio, making the stock its 11th largest position. Lmcg Investments LLC’s holdings in NVIDIA were worth $23,224,000 as of its most recent filing with the Securities and Exchange Commission.

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

NVIDIA Stock Up 1.9%

Shares of NASDAQ NVDA opened at $144.69 on Tuesday. The stock has a market cap of $3.53 trillion, a PE ratio of 56.94, a PEG ratio of 1.76 and a beta of 2.12. The business has a fifty day moving average of $123.74 and a two-hundred day moving average of $126.36. 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 issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 earnings per share. As a group, equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is presently 1.29%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NVDA. DA Davidson raised their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Hsbc Global Res lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. HSBC downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Thursday, April 3rd. Arete Research upgraded NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Finally, Mizuho increased their price target on NVIDIA from $168.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $172.24.

Insider Activity at NVIDIA

In related news, Director Robert K. Burgess sold 50,000 shares of NVIDIA stock in a transaction dated Friday, May 30th. The stock was sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the sale, the director now directly owns 201,044 shares in the company, valued at $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 completion of the sale, the director now owns 26,671,360 shares of the company’s stock, 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 sold 2,560,845 shares of company stock valued at $360,351,849 over the last ninety days. 4.17% of the stock is owned by insiders.

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.