First City Capital Management Inc. Has $3.85 Million Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

First City Capital Management Inc. cut its stake in NVIDIA Corporation (NASDAQ:NVDA) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,482 shares of the computer hardware maker’s stock after selling 2,203 shares during the period. NVIDIA accounts for 2.3% of First City Capital Management Inc.’s investment portfolio, making the stock its 12th largest holding. First City Capital Management Inc.’s holdings in NVIDIA were worth $3,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Hickory Point Bank & Trust acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $2,272,000. BTC Capital Management Inc. boosted its stake 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 worth $35,785,000 after acquiring an additional 7,476 shares in the last quarter. Capital Performance Advisors LLP grew its holdings in NVIDIA by 59.3% in the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after purchasing an additional 9,944 shares during the period. Waddell & Associates LLC increased its stake in NVIDIA by 1.2% in the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock valued at $3,240,000 after purchasing an additional 297 shares in the last quarter. Finally, Strategy Asset Managers LLC raised its holdings 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 valued at $7,024,000 after purchasing an additional 405 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on NVDA. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. William Blair reiterated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. TD Cowen raised their price objective on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 target price (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Hsbc Global Res cut NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-five have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $173.05.

NVIDIA Price Performance

NVDA opened at $145.48 on Friday. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The firm has a 50-day moving average of $125.72 and a 200 day moving average of $126.66. The firm has a market cap of $3.55 trillion, a P/E ratio of 46.93, 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 (NASDAQ:NVDA) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period last year, the company posted $0.61 earnings per share. On average, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm 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. This represents a $0.04 annualized dividend and a 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 at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert K. Burgess sold 50,000 shares of the business’s 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 transaction, the director now owns 201,044 shares of the company’s stock, valued at approximately $27,104,752.08. The trade was a 19.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,469,685 shares of company stock valued at $349,669,962 over the last three months. 4.17% of the stock is currently 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.