Wedge Capital Management L L P NC Has $3.47 Million Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Wedge Capital Management L L P NC lessened its stake in NVIDIA Corporation (NASDAQ:NVDA) by 1.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,993 shares of the computer hardware maker’s stock after selling 400 shares during the quarter. Wedge Capital Management L L P NC’s holdings in NVIDIA were worth $3,467,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVDA. Morgan Stanley reissued an “overweight” rating and set a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Bank of America lifted their price objective on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Raymond James Financial boosted their target price on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 29th. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. Finally, Susquehanna restated a “positive” rating and set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have issued a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $173.05.

NVIDIA Stock Performance

NVDA stock opened at $143.83 on Friday. The stock has a market capitalization 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 12-month low of $86.62 and a 12-month high of $153.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock’s 50 day simple moving average is $126.37 and its 200 day simple moving average is $126.69.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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). 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 quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. As a group, research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director now owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert K. Burgess sold 50,000 shares of the stock in a transaction on 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 completion of the sale, the director now owns 201,044 shares of the company’s stock, valued at $27,104,752.08. The trade was a 19.92% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,469,685 shares of company stock valued at $349,669,962. 4.17% of the stock is owned by company 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.