NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Sterling Investment Management LLC

Sterling Investment Management LLC lowered its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 17.2% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,172 shares of the computer hardware maker’s stock after selling 450 shares during the quarter. Sterling Investment Management LLC’s holdings in NVIDIA were worth $235,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC increased its holdings in shares of NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC lifted its position in NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after buying an additional 3,721,331 shares in the last quarter. Norges Bank purchased a new stake in NVIDIA during the fourth quarter worth about $43,515,504,000. Finally, Northern Trust Corp boosted its stake in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director A Brooke Seawell sold 54,467 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $146.88, for a total transaction of $8,000,112.96. Following the completion of the sale, the director now directly owns 1,834,570 shares in the company, valued at approximately $269,461,641.60. This trade represents a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director now directly owns 9,214,697 shares in the company, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,393,863 shares of company stock worth $483,709,832 over the last ninety days. Company insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $154.31 on Thursday. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $154.45. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average of $128.75 and a two-hundred day moving average of $126.78. The company has a market cap of $3.77 trillion, a P/E ratio of 49.78, a PEG ratio of 1.31 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the business posted $0.61 EPS. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, analysts anticipate 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. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.29%.

Analyst Upgrades and Downgrades

NVDA has been the subject of several recent research reports. Barclays raised their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. HSBC lowered NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Thursday, April 3rd. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Finally, Raymond James Financial upped their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $175.78.

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.