Patriot Financial Group Insurance Agency LLC Sells 649 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Patriot Financial Group Insurance Agency LLC lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 0.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,253 shares of the computer hardware maker’s stock after selling 649 shares during the quarter. NVIDIA comprises approximately 1.3% of Patriot Financial Group Insurance Agency LLC’s investment portfolio, making the stock its 9th largest holding. Patriot Financial Group Insurance Agency LLC’s holdings in NVIDIA were worth $9,998,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Tacita Capital Inc purchased a new position in shares of NVIDIA during the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA during the 4th quarter valued at approximately $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA during the 4th quarter valued at approximately $40,000. Copia Wealth Management acquired a new stake in NVIDIA in the 4th quarter valued at $50,000. Finally, LSV Asset Management acquired a new stake in NVIDIA in the 4th quarter valued at $54,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 935,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director now owns 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on 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 $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,469,685 shares of company stock worth $349,669,962 in the last 90 days. 4.17% of the stock is owned by company insiders.

NVIDIA Stock Down 1.1%

NVDA opened at $143.83 on Friday. The firm has a 50 day moving average price of $126.37 and a 200 day moving average price of $126.69. The company has a market cap of $3.51 trillion, a PE ratio of 46.40, a price-to-earnings-growth ratio of 1.28 and a beta of 2.12. NVIDIA Corporation has a 1 year low of $86.62 and a 1 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.

NVIDIA (NASDAQ:NVDA) last posted its 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 business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the company posted $0.61 EPS. Sell-side 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. Shareholders of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA’s dividend payout ratio is presently 1.29%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Piper Sandler reissued 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. UBS Group reissued a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. DA Davidson lifted their price target on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research note on Thursday, May 29th. Finally, Benchmark reissued a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $173.05.

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.