Single Point Partners LLC Sells 2,185 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Single Point Partners LLC trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA) by 46.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,560 shares of the computer hardware maker’s stock after selling 2,185 shares during the period. Single Point Partners LLC’s holdings in NVIDIA were worth $277,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Priebe Wealth Holdings LLC increased its holdings in NVIDIA by 8.3% in the first quarter. Priebe Wealth Holdings LLC now owns 7,032 shares of the computer hardware maker’s stock valued at $762,000 after purchasing an additional 541 shares during the period. 25 LLC increased its holdings in NVIDIA by 9.2% in the first quarter. 25 LLC now owns 8,304 shares of the computer hardware maker’s stock valued at $900,000 after purchasing an additional 703 shares during the period. Capital Investment Advisors LLC increased its holdings in NVIDIA by 8.3% in the first quarter. Capital Investment Advisors LLC now owns 401,792 shares of the computer hardware maker’s stock valued at $43,546,000 after purchasing an additional 30,650 shares during the period. PFW Advisors LLC increased its holdings in NVIDIA by 1.7% in the first quarter. PFW Advisors LLC now owns 25,406 shares of the computer hardware maker’s stock valued at $2,754,000 after purchasing an additional 428 shares during the period. Finally, Lloyd Advisory Services LLC. increased its holdings in NVIDIA by 23.3% in the first quarter. Lloyd Advisory Services LLC. now owns 16,986 shares of the computer hardware maker’s stock valued at $1,841,000 after purchasing an additional 3,209 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 1.1%

NASDAQ:NVDA opened at $143.83 on Friday. 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 has a market capitalization of $3.51 trillion, a PE ratio of 46.40, a price-to-earnings-growth ratio of 1.27 and a beta of 2.12. The firm’s 50 day moving average is $126.37 and its 200 day moving average is $126.56. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. Sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction 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 transaction, the director now owns 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,469,685 shares of company stock worth $349,669,962. Corporate insiders own 4.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a report on Wednesday, March 19th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Susquehanna reiterated a “positive” rating and set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Morgan Stanley reiterated an “overweight” rating and set a $170.00 price target (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Finally, Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.