MinichMacGregor Wealth Management LLC Has $10.05 Million Holdings in NVIDIA Corporation (NASDAQ:NVDA)

MinichMacGregor Wealth Management LLC lowered its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 5.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 91,371 shares of the computer hardware maker’s stock after selling 5,494 shares during the quarter. NVIDIA accounts for about 2.2% of MinichMacGregor Wealth Management LLC’s holdings, making the stock its 15th largest position. MinichMacGregor Wealth Management LLC’s holdings in NVIDIA were worth $10,051,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. FMR LLC grew its position in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its position in NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank purchased a new position in NVIDIA during the fourth quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp grew its position in NVIDIA by 15.8% during 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 in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,520,246 shares of company stock valued at $660,253,045 in the last 90 days. 4.17% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently commented on NVDA shares. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. TD Cowen boosted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. Rosenblatt Securities boosted their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Finally, Wedbush reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $177.03.

NVIDIA Price Performance

NASDAQ:NVDA opened at $164.10 on Friday. The stock has a market cap of $4.00 trillion, a P/E ratio of 52.94, a PEG ratio of 1.44 and a beta of 2.13. NVIDIA Corporation has a one year low of $86.62 and a one year high of $164.50. The company has a fifty day moving average price of $140.52 and a 200 day moving average price of $128.60. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion for 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%. NVIDIA’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 company earned $0.61 earnings per share. Analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s payout ratio is currently 1.29%.

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.