TCI Wealth Advisors Inc. Sells 6,515 Shares of NVIDIA Corporation (NASDAQ:NVDA)

TCI Wealth Advisors Inc. decreased its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 12.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,177 shares of the computer hardware maker’s stock after selling 6,515 shares during the period. TCI Wealth Advisors Inc.’s holdings in NVIDIA were worth $4,788,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Boston Trust Walden Corp increased its position in shares of NVIDIA by 42.9% in the first quarter. Boston Trust Walden Corp now owns 780,012 shares of the computer hardware maker’s stock worth $84,538,000 after purchasing an additional 234,080 shares during the period. Global X Japan Co. Ltd. increased its position in shares of NVIDIA by 8.1% in the first quarter. Global X Japan Co. Ltd. now owns 356,955 shares of the computer hardware maker’s stock worth $38,687,000 after purchasing an additional 26,712 shares during the period. Montz Harcus Wealth Management LLC lifted its stake in NVIDIA by 4.1% during the first quarter. Montz Harcus Wealth Management LLC now owns 19,223 shares of the computer hardware maker’s stock worth $2,083,000 after purchasing an additional 754 shares during the last quarter. WestHill Financial Advisors Inc. lifted its stake in NVIDIA by 1.8% during the first quarter. WestHill Financial Advisors Inc. now owns 9,523 shares of the computer hardware maker’s stock worth $1,032,000 after purchasing an additional 168 shares during the last quarter. Finally, Centennial Wealth Advisory LLC lifted its stake in NVIDIA by 7.5% during the first quarter. Centennial Wealth Advisory LLC now owns 24,446 shares of the computer hardware maker’s stock worth $2,649,000 after purchasing an additional 1,695 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NVDA. DA Davidson upped their target price on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, May 29th. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a research note on Wednesday, March 19th. HSBC lowered NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Thursday, April 3rd. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Monday, June 16th. Finally, Loop Capital raised their price objective on NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. One 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 assigned a strong buy rating to the stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $176.19.

NVIDIA Price Performance

NVIDIA stock opened at $159.28 on Monday. The stock’s 50 day moving average is $136.38 and its 200 day moving average is $127.81. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm 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 one year low of $86.62 and a one year high of $160.98.

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

NVIDIA Dividend Announcement

The firm also recently announced 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 currently 1.29%.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the sale, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 30th. The stock was 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 owned 75,323,225 shares of the company’s stock, valued at approximately $11,865,667,634.25. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,044,919 shares of company stock worth $584,414,209. 4.17% of the stock is owned by corporate 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.