NVIDIA Corporation (NASDAQ:NVDA) is Trivant Custom Portfolio Group LLC’s 3rd Largest Position

Trivant Custom Portfolio Group LLC decreased its position in NVIDIA Corporation (NASDAQ:NVDA) by 5.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,547 shares of the computer hardware maker’s stock after selling 4,296 shares during the quarter. NVIDIA accounts for 4.3% of Trivant Custom Portfolio Group LLC’s portfolio, making the stock its 3rd largest position. Trivant Custom Portfolio Group LLC’s holdings in NVIDIA were worth $7,538,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NVDA. Wealth Group Ltd. lifted 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 worth $766,000 after purchasing an additional 100 shares during the last quarter. Tallon Kerry Patrick purchased a new position in shares of NVIDIA in the fourth quarter worth about $972,000. Capital & Planning LLC lifted its stake in shares of NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock valued at $1,021,000 after acquiring an additional 1,099 shares during the last quarter. Ironwood Wealth Management LLC. boosted its holdings in NVIDIA by 1.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock valued at $871,000 after acquiring an additional 104 shares during the period. Finally, Brighton Jones LLC grew its position in NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after acquiring an additional 35,815 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 1.3%

Shares of NVIDIA 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 price-to-earnings-growth ratio of 1.41 and a beta of 2.13. The company’s 50 day moving average is $136.38 and its 200 day moving average is $127.81. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $160.98. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter last year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 69.2% on a year-over-year basis. Research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid 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 (DPR) is presently 1.29%.

Analysts Set New Price Targets

NVDA has been the subject of several recent research reports. Barclays boosted their price objective on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. Piper Sandler reissued an “overweight” rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Monday, June 16th. Needham & Company LLC reissued a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Benchmark restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $176.19.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Monday, June 30th. The shares were sold at an average price of $157.53, for a total value of $11,814,750.00. Following the completion of the sale, the chief executive officer directly owned 75,323,225 shares of the company’s stock, valued at $11,865,667,634.25. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 directly owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,044,919 shares of company stock valued at $584,414,209 over the last three months. Corporate insiders own 4.17% of the company’s stock.

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.