626 Financial LLC Cuts Stake in NVIDIA Corporation (NASDAQ:NVDA)

626 Financial LLC trimmed its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,148 shares of the computer hardware maker’s stock after selling 425 shares during the quarter. NVIDIA accounts for about 2.0% of 626 Financial LLC’s portfolio, making the stock its 11th largest position. 626 Financial LLC’s holdings in NVIDIA were worth $3,809,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in NVDA. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter valued at $43,515,504,000. GAMMA Investing LLC raised its stake in NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after acquiring an additional 48,439,859 shares during the last quarter. Northern Trust Corp lifted its position in NVIDIA by 15.8% during 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 period. Proficio Capital Partners LLC grew its stake in NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in NVIDIA during the 4th quarter valued at about $2,987,733,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Down 0.4%

NASDAQ NVDA opened at $144.12 on Wednesday. The firm’s fifty day moving average is $124.34 and its two-hundred day moving average is $126.49. NVIDIA Corporation has a one year low of $86.62 and a one year high of $153.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm has a market cap of $3.52 trillion, a PE ratio of 46.49, a P/E/G ratio of 1.28 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results 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 analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.61 EPS. Analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently declared 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. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, March 21st. The shares were 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 in the company, valued at $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the transaction, the director now directly owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This represents a 27.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,560,845 shares of company stock valued at $360,351,849 over the last three months. 4.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NVDA shares. Citigroup reiterated a “buy” rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research report on Thursday, May 29th. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Monday. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Finally, DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.05.

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.