NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Community Financial Services Group LLC

Community Financial Services Group LLC lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 28.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,451 shares of the computer hardware maker’s stock after selling 39,322 shares during the quarter. NVIDIA makes up approximately 2.4% of Community Financial Services Group LLC’s holdings, making the stock its 12th largest position. Community Financial Services Group LLC’s holdings in NVIDIA were worth $10,887,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Tacita Capital Inc acquired a new position in NVIDIA during the 4th quarter worth $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth $38,000. Copia Wealth Management acquired a new stake in shares of NVIDIA during the fourth quarter worth $50,000. Bruce G. Allen Investments LLC raised its position in shares of 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 purchasing an additional 327 shares during the period. Finally, LSV Asset Management acquired a new position in NVIDIA during the fourth quarter valued at $54,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NVDA. Oppenheimer reissued an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Monday, June 16th. The Goldman Sachs Group initiated coverage on NVIDIA in a research note on Thursday, July 10th. They issued a “buy” rating and a $185.00 target price on the stock. TD Cowen upped their price target on NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Barclays increased their target price on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Finally, Loop Capital increased their target price on NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $177.03.

NVIDIA Trading Down 0.5%

NVDA stock opened at $164.07 on Tuesday. The business has a fifty day moving average price of $142.53 and a 200 day moving average price of $128.80. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $167.89. The stock has a market capitalization of $4.00 trillion, a price-to-earnings ratio of 52.93, a P/E/G ratio of 1.46 and a beta of 2.13. 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 quarterly 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. Analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given 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 0.02%. NVIDIA’s payout ratio is 1.29%.

Insider Transactions at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% 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 over the last 90 days. 4.17% of the stock is currently 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.