PSI Advisors LLC Cuts Stake in NVIDIA Corporation (NASDAQ:NVDA)

PSI Advisors LLC reduced its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 44.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,953 shares of the computer hardware maker’s stock after selling 14,223 shares during the period. NVIDIA comprises 0.6% of PSI Advisors LLC’s investment portfolio, making the stock its 27th largest holding. PSI Advisors LLC’s holdings in NVIDIA were worth $1,946,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. GSB Wealth Management LLC increased its holdings in NVIDIA by 3.3% in the first quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock valued at $3,534,000 after buying an additional 1,043 shares during the last quarter. Variant Private Wealth LLC increased its holdings in NVIDIA by 20.6% in the first quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock valued at $2,038,000 after buying an additional 3,206 shares during the last quarter. Financial Perspectives Inc increased its holdings in NVIDIA by 2.8% in the first quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock valued at $4,981,000 after buying an additional 1,265 shares during the last quarter. Hickory Point Bank & Trust purchased a new position in NVIDIA in the fourth quarter valued at $2,272,000. Finally, BTC Capital Management Inc. increased its holdings in NVIDIA by 2.3% in the first quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock valued at $35,785,000 after buying an additional 7,476 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 1.3%

Shares of NVIDIA stock opened at $159.28 on Friday. The company has a market cap of $3.89 trillion, a P/E ratio of 51.38, a PEG ratio of 1.41 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a one year low of $86.62 and a one year high of $160.98. The firm has a fifty day moving average of $136.38 and a two-hundred day moving average of $127.83.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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 firm had revenue of $44.06 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 EPS. On average, analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.29%.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent analyst reports. Arete Research raised NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Oppenheimer restated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Monday, June 16th. HSBC cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Thursday, April 3rd. Finally, Wedbush restated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $176.19.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated 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 completion of the transaction, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares of the company’s stock, valued at $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,044,919 shares of company stock worth $584,414,209. 4.17% of the stock is owned by company insiders.

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.