ForthRight Wealth Management LLC Sells 629 Shares of NVIDIA Corporation (NASDAQ:NVDA)

ForthRight Wealth Management LLC cut its position in NVIDIA Corporation (NASDAQ:NVDA) by 21.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,238 shares of the computer hardware maker’s stock after selling 629 shares during the quarter. ForthRight Wealth Management LLC’s holdings in NVIDIA were worth $243,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. FMR LLC raised its stake in shares of NVIDIA by 0.7% during 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 purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC raised its stake in shares of NVIDIA by 1.7% during the 4th 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 raised its stake in shares of NVIDIA by 0.9% during the 4th 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 purchasing an additional 3,721,331 shares during the period. Norges Bank bought a new stake in shares of NVIDIA during the 4th quarter valued at $43,515,504,000. Finally, Northern Trust Corp raised 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 valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of analyst reports. Mizuho boosted their price objective on NVIDIA from $168.00 to $170.00 and gave the company an “outperform” rating in a research note on Thursday, May 29th. Citigroup restated a “buy” rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Bank of America upped their target price on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Finally, HSBC lowered NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $175.78.

NVIDIA Trading Up 0.5%

NVDA opened at $155.02 on Friday. The business has a 50 day simple moving average of $129.83 and a two-hundred day simple moving average of $126.89. The firm has a market capitalization of $3.78 trillion, a price-to-earnings ratio of 50.01, a PEG ratio of 1.36 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 Corporation has a one year low of $86.62 and a one year high of $156.72.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 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 the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.61 EPS. Analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm 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. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s payout ratio is 1.29%.

Insider Buying and Selling at NVIDIA

In other news, Director A Brooke Seawell sold 54,467 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $146.88, for a total value of $8,000,112.96. Following the completion of the transaction, the director now owns 1,834,570 shares in the company, valued at $269,461,641.60. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer now owns 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,468,863 shares of company stock valued at $495,150,332 in the last 90 days. Insiders own 4.17% of the company’s stock.

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.