Abacus Planning Group Inc. Has $3.89 Million Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Abacus Planning Group Inc. decreased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,897 shares of the computer hardware maker’s stock after selling 392 shares during the period. NVIDIA accounts for approximately 0.7% of Abacus Planning Group Inc.’s holdings, making the stock its 25th biggest holding. Abacus Planning Group Inc.’s holdings in NVIDIA were worth $3,891,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Hickory Point Bank & Trust acquired a new position in NVIDIA during the 4th quarter valued at about $2,272,000. BTC Capital Management Inc. lifted its position in NVIDIA by 2.3% during the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock valued at $35,785,000 after purchasing an additional 7,476 shares during the period. Capital Performance Advisors LLP lifted its position in NVIDIA by 59.3% during 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 during the period. Waddell & Associates LLC lifted its position in NVIDIA by 1.2% during the 4th 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 during the period. Finally, Strategy Asset Managers LLC lifted its position in NVIDIA by 0.8% during the 4th 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.

Insider Buying and Selling

In other NVIDIA news, Director Robert K. Burgess sold 50,000 shares of NVIDIA 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 in the company, valued at $27,104,752.08. The trade was a 19.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 190,000 shares of NVIDIA stock in a transaction dated Monday, June 9th. The shares were 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 represents a 2.10% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,469,685 shares of company stock worth $349,669,962. Company insiders own 4.17% of the company’s stock.

NVIDIA Trading Down 1.1%

Shares of NVIDIA stock opened at $143.83 on Friday. The business has a fifty day simple moving average of $126.37 and a two-hundred day simple moving average of $126.56. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $153.13. The company has a market capitalization of $3.51 trillion, a price-to-earnings ratio of 46.40, a P/E/G ratio of 1.27 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA) last posted 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 return on equity of 105.09% and a net margin of 51.69%. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 EPS. Research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Wall Street Analyst Weigh In

NVDA has been the topic of a number of research reports. UBS Group restated a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Susquehanna reaffirmed a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Rosenblatt Securities upped their price target on NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Bank of America upped their price target on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Finally, Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $173.05.

NVIDIA 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.