Tower View Wealth Management LLC Reduces Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Tower View Wealth Management LLC reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 1.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,582 shares of the computer hardware maker’s stock after selling 801 shares during the period. NVIDIA accounts for about 3.3% of Tower View Wealth Management LLC’s holdings, making the stock its 9th biggest position. Tower View Wealth Management LLC’s holdings in NVIDIA were worth $5,699,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Tacita Capital Inc purchased a new stake in NVIDIA during the fourth quarter worth about $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA during the fourth quarter worth about $38,000. Copia Wealth Management purchased a new stake in NVIDIA during the fourth quarter worth about $50,000. LSV Asset Management purchased a new stake in NVIDIA during the fourth quarter worth about $54,000. Finally, Bruce G. Allen Investments LLC increased its holdings in NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after buying an additional 327 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

NVDA stock opened at $164.10 on Friday. 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 Corporation has a one year low of $86.62 and a one year high of $164.50. The stock has a market cap of $4.00 trillion, a PE ratio of 52.94, a P/E/G ratio of 1.44 and a beta of 2.13. The firm has a 50 day simple moving average of $140.52 and a two-hundred day simple moving average of $128.60.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 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%. NVIDIA’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. On average, analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 dividend yield of 0.02%. NVIDIA’s payout ratio is 1.29%.

Insider Buying and Selling

In other news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $163.11, for a total value of $12,233,250.00. Following the completion of the sale, the chief executive officer directly owned 74,873,225 shares in the company, valued at approximately $12,212,571,729.75. The trade was a 0.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director A Brooke Seawell sold 49,131 shares of the business’s stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $162.83, for a total transaction of $8,000,000.73. Following the completion of the sale, the director owned 1,826,382 shares of the company’s stock, valued at approximately $297,389,781.06. The trade was a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,520,246 shares of company stock valued at $660,253,045. Company insiders own 4.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NVDA shares. William Blair restated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. KeyCorp set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. Loop Capital lifted their target price on shares of NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 25th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.03.

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.