Catalina Capital Group LLC Sells 63,688 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Catalina Capital Group LLC trimmed its position in NVIDIA Corporation (NASDAQ:NVDA) by 57.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,235 shares of the computer hardware maker’s stock after selling 63,688 shares during the period. NVIDIA accounts for approximately 3.3% of Catalina Capital Group LLC’s investment portfolio, making the stock its 5th biggest holding. Catalina Capital Group LLC’s holdings in NVIDIA were worth $5,119,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in NVIDIA in the fourth quarter valued at $43,515,504,000. GAMMA Investing LLC boosted its holdings in NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after purchasing an additional 48,439,859 shares during the last quarter. Northern Trust Corp boosted its holdings in NVIDIA by 15.8% in the fourth 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 last quarter. Proficio Capital Partners LLC boosted its holdings in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock valued at $3,864,026,000 after purchasing an additional 23,948,733 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. KeyCorp set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Raymond James Financial upped their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a report on Thursday, May 29th. Bank of America increased their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Mizuho increased their target price on shares of NVIDIA from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Piper Sandler reissued an “overweight” rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $176.19.

NVIDIA Stock Up 1.3%

NVDA stock opened at $159.28 on Monday. The company has a market cap of $3.89 trillion, a price-to-earnings ratio of 51.38, a PEG 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 12 month low of $86.62 and a 12 month high of $160.98. The firm has a 50-day moving average of $136.38 and a two-hundred day moving average of $127.81.

NVIDIA (NASDAQ:NVDA) last released 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 business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm’s revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 EPS. As a group, analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. The ex-dividend date 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 1.29%.

Insider Buying and Selling at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $157.53, for a total transaction of $11,814,750.00. Following the completion of the sale, the chief executive officer owned 75,323,225 shares in the company, valued at $11,865,667,634.25. This trade represents a 0.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director A Brooke Seawell sold 51,740 shares of the firm’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $154.62, for a total transaction of $8,000,038.80. Following the sale, the director owned 1,576,709 shares of the company’s stock, valued at $243,790,745.58. This represents a 3.18% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,044,919 shares of company stock worth $584,414,209. Insiders own 4.17% of the company’s stock.

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.