Davis Capital Management Lowers Position in NVIDIA Corporation (NASDAQ:NVDA)

Davis Capital Management trimmed its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 7.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,774 shares of the computer hardware maker’s stock after selling 375 shares during the quarter. Davis Capital Management’s holdings in NVIDIA were worth $517,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in NVDA. Hickory Point Bank & Trust acquired a new position in NVIDIA during the fourth quarter worth $2,272,000. BTC Capital Management Inc. boosted its position in shares of NVIDIA by 2.3% during the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock worth $35,785,000 after purchasing an additional 7,476 shares in the last quarter. Capital Performance Advisors LLP increased its holdings in shares of NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after purchasing an additional 9,944 shares in the last quarter. Waddell & Associates LLC boosted its holdings in NVIDIA by 1.2% during the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock worth $3,240,000 after buying an additional 297 shares in the last quarter. Finally, Strategy Asset Managers LLC grew its position in 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 buying an additional 405 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 0.4%

NASDAQ NVDA opened at $144.12 on Wednesday. The firm has a market capitalization of $3.52 trillion, a price-to-earnings ratio of 46.49, a PEG ratio of 1.28 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a one year low of $86.62 and a one year high of $153.13. The company’s 50 day moving average price is $124.34 and its 200 day moving average price is $126.49.

NVIDIA (NASDAQ:NVDA) last posted 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. The business’s revenue was up 69.2% compared to the same quarter last year. On average, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s payout ratio is 1.29%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on NVDA. William Blair reiterated an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. Oppenheimer reiterated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Monday. Finally, Piper Sandler reissued an “overweight” rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $173.05.

Insider Activity

In other news, 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 transaction 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. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 190,000 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.51, for a total value of $27,076,900.00. Following the completion of the transaction, the director now owns 8,855,848 shares in the company, valued at approximately $1,262,046,898.48. This trade represents a 2.10% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,560,845 shares of company stock worth $360,351,849. 4.17% of the stock is currently owned by corporate insiders.

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.