Puzo Michael J Sells 1,017 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Puzo Michael J decreased its position in NVIDIA Corporation (NASDAQ:NVDA) by 0.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 124,657 shares of the computer hardware maker’s stock after selling 1,017 shares during the period. NVIDIA comprises about 3.9% of Puzo Michael J’s investment portfolio, making the stock its 7th biggest holding. Puzo Michael J’s holdings in NVIDIA were worth $13,510,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tacita Capital Inc acquired a new position in shares of NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the fourth quarter valued at approximately $38,000. Copia Wealth Management purchased a new position in NVIDIA during the fourth quarter valued at approximately $50,000. Bruce G. Allen Investments LLC increased its stake in NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after buying an additional 327 shares during the period. Finally, LSV Asset Management purchased a new stake in NVIDIA in the 4th quarter worth approximately $54,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,044,919 shares of company stock valued at $584,414,209. 4.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on NVDA. Bank of America boosted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Susquehanna restated a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Citigroup reaffirmed a “buy” rating and set a $180.00 price target (up from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a report on Wednesday, March 19th. Finally, Needham & Company LLC restated a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $176.19.

NVIDIA Stock Up 1.3%

NVDA opened at $159.28 on Friday. The business has a 50 day moving average of $136.38 and a 200-day moving average of $127.84. The stock has a market capitalization of $3.89 trillion, a price-to-earnings ratio of 51.38, a P/E/G ratio of 1.41 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $160.98.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results 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). The company had revenue of $44.06 billion during 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 revenue for the quarter was up 69.2% on a year-over-year basis. During the same period last year, the company earned $0.61 earnings per share. As a group, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were 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 of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

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.