Affinity Wealth Management LLC Reduces Position in NVIDIA Corporation (NASDAQ:NVDA)

Affinity Wealth Management LLC decreased its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 0.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,053 shares of the computer hardware maker’s stock after selling 1,172 shares during the period. NVIDIA comprises approximately 2.6% of Affinity Wealth Management LLC’s holdings, making the stock its 12th largest position. Affinity Wealth Management LLC’s holdings in NVIDIA were worth $14,203,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Hickory Point Bank & Trust purchased a new position in shares of NVIDIA during the 4th quarter valued at $2,272,000. BTC Capital Management Inc. raised its holdings in NVIDIA by 2.3% during the first quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock valued at $35,785,000 after acquiring an additional 7,476 shares during the period. Capital Performance Advisors LLP lifted its position in shares of NVIDIA by 59.3% in the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after acquiring an additional 9,944 shares in the last quarter. Waddell & Associates LLC boosted its stake in shares of NVIDIA by 1.2% in the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock worth $3,240,000 after acquiring an additional 297 shares during the period. Finally, Strategy Asset Managers LLC grew its position in shares of NVIDIA by 0.8% during the fourth quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock worth $7,024,000 after purchasing an additional 405 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now directly owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,560,845 shares of company stock valued at $360,351,849. 4.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NVDA. Hsbc Global Res cut NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Mizuho upped their target price on shares of NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, May 29th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Wedbush restated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Finally, HSBC downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $173.05.

NVIDIA Stock Down 0.4%

Shares of NASDAQ NVDA opened at $144.12 on Wednesday. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $124.34 and its two-hundred day moving average is $126.49. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $153.13. The firm has a market cap of $3.52 trillion, a price-to-earnings ratio of 46.49, a PEG ratio of 1.28 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the prior year, the firm posted $0.61 EPS. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. Research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given 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 dividend payout ratio is presently 1.29%.

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.