Petros Family Wealth LLC Has $2.02 Million Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Petros Family Wealth LLC reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 8.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 18,626 shares of the computer hardware maker’s stock after selling 1,750 shares during the period. NVIDIA makes up 2.2% of Petros Family Wealth LLC’s investment portfolio, making the stock its 9th biggest position. Petros Family Wealth LLC’s holdings in NVIDIA were worth $2,019,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Wealth Group Ltd. raised its position in NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock worth $766,000 after purchasing an additional 100 shares during the period. Tallon Kerry Patrick purchased a new position in NVIDIA in the 4th quarter worth $972,000. Capital & Planning LLC raised its position in NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock worth $1,021,000 after purchasing an additional 1,099 shares during the period. Ironwood Wealth Management LLC. raised its position in NVIDIA by 1.6% in the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock worth $871,000 after purchasing an additional 104 shares during the period. Finally, Brighton Jones LLC raised its position in NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after purchasing an additional 35,815 shares during the period. 65.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently commented on NVDA. Hsbc Global Res cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Truist Financial upped their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Loop Capital upped their price objective on shares of NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. One 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.03.

Insiders Place Their Bets

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director directly owned 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This trade represents a 9.21% 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. Insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $164.07 on Tuesday. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average price is $142.53 and its 200-day moving average price is $128.80. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $167.89. The stock has a market cap of $4.00 trillion, a P/E ratio of 52.93, a P/E/G ratio of 1.46 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last issued 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 the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. Equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors 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 annualized dividend and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is presently 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.