Scharf Investments LLC Has $4.58 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Scharf Investments LLC lowered its position in NVIDIA Corporation (NASDAQ:NVDA) by 1.5% during the first quarter, according to its most recent filing with the SEC. The firm owned 42,280 shares of the computer hardware maker’s stock after selling 659 shares during the period. NVIDIA accounts for approximately 0.1% of Scharf Investments LLC’s portfolio, making the stock its 29th largest position. Scharf Investments LLC’s holdings in NVIDIA were worth $4,582,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wealth Group Ltd. increased its stake in NVIDIA by 1.8% during the 4th 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 in the last quarter. Tallon Kerry Patrick bought a new stake in shares of NVIDIA in the 4th quarter worth $972,000. Capital & Planning LLC grew its position in NVIDIA by 16.9% during the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock valued at $1,021,000 after buying an additional 1,099 shares during the period. Ironwood Wealth Management LLC. grew its position in NVIDIA by 1.6% during the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock valued at $871,000 after buying an additional 104 shares during the period. Finally, Brighton Jones LLC grew its position in NVIDIA by 12.4% during the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock valued at $43,631,000 after buying an additional 35,815 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $164.92 on Monday. 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 stock has a market cap of $4.02 trillion, a price-to-earnings ratio of 53.20, a PEG ratio of 1.46 and a beta of 2.13. The firm’s 50-day moving average is $141.53 and its 200 day moving average is $128.62. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $167.89.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (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 the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA’s revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 EPS. Sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Activity

In related news, CEO Jen Hsun Huang sold 75,000 shares of the 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 of the company’s stock, valued at approximately $12,212,571,729.75. This represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director A Brooke Seawell sold 49,131 shares of the 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 directly owned 1,826,382 shares of the company’s stock, valued at $297,389,781.06. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,520,246 shares of company stock valued at $660,253,045 in the last ninety days. Insiders own 4.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVDA. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. DA Davidson raised their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Barclays raised their target price on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Citigroup raised their target price on shares of NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Finally, Seaport Res Ptn raised shares of NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $177.03.

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.