Janney Capital Management LLC Cuts Stake in NVIDIA Corporation (NASDAQ:NVDA)

Janney Capital Management LLC lowered its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 18.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 84,112 shares of the computer hardware maker’s stock after selling 18,788 shares during the period. Janney Capital Management LLC’s holdings in NVIDIA were worth $9,116,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NVDA. Wealth Group Ltd. grew its stake in NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock valued at $766,000 after purchasing an additional 100 shares during the last quarter. Tallon Kerry Patrick purchased a new position in NVIDIA in the fourth quarter valued at about $972,000. Capital & Planning LLC grew its stake in NVIDIA by 16.9% in the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock valued at $1,021,000 after purchasing an additional 1,099 shares during the last quarter. Ironwood Wealth Management LLC. grew its stake in NVIDIA by 1.6% in the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock valued at $871,000 after purchasing an additional 104 shares during the last quarter. Finally, Brighton Jones LLC grew its stake in NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock valued at $43,631,000 after purchasing an additional 35,815 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 1.3%

Shares of NASDAQ:NVDA opened at $159.28 on Monday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $160.98. The company has a market capitalization of $3.89 trillion, a PE ratio of 51.38, a PEG ratio of 1.41 and a beta of 2.13. The business has a 50 day moving average of $136.38 and a two-hundred day moving average of $127.81. 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 announced 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 analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company’s revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 earnings per share. As a group, analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 935,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. This represents a 9.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total value of $11,440,500.00. Following the transaction, the chief executive officer directly owned 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,044,919 shares of company stock valued at $584,414,209. Corporate insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of several analyst reports. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Hsbc Global Res lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Benchmark restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. KeyCorp set a $190.00 price target on NVIDIA in a research note on Wednesday, March 19th. Finally, UBS Group restated a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. One equities research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $176.19.

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.