Greenup Street Wealth Management LLC Sells 8,106 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Greenup Street Wealth Management LLC trimmed its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 14.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,245 shares of the computer hardware maker’s stock after selling 8,106 shares during the period. NVIDIA comprises 1.0% of Greenup Street Wealth Management LLC’s portfolio, making the stock its 20th largest position. Greenup Street Wealth Management LLC’s holdings in NVIDIA were worth $5,229,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of NVDA. Tacita Capital Inc bought a new position in NVIDIA in the fourth quarter worth about $28,000. Vision Financial Markets LLC bought a new position in NVIDIA in the fourth quarter worth about $38,000. Copia Wealth Management bought a new position in NVIDIA in the fourth quarter worth about $50,000. Bruce G. Allen Investments LLC increased its stake in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after purchasing an additional 327 shares in the last quarter. Finally, LSV Asset Management bought a new position in shares of NVIDIA during the fourth quarter valued at approximately $54,000. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Hsbc Global Res downgraded shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research note on Monday, June 16th. KeyCorp set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Finally, UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. 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 issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $176.19.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were 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 approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,044,919 shares of company stock worth $584,414,209. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Trading Up 1.3%

NASDAQ NVDA opened at $159.28 on Monday. The company has a fifty day simple moving average of $136.38 and a two-hundred day simple moving average of $127.81. The stock has a market cap of $3.89 trillion, a P/E ratio of 51.38, a P/E/G ratio of 1.41 and a beta of 2.13. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $160.98. 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 (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the business 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 business also recently declared 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 of this dividend was 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 is currently 1.29%.

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.