NVIDIA Corporation (NASDAQ:NVDA) Position Lowered by Saxony Capital Management LLC

Saxony Capital Management LLC cut its position in NVIDIA Corporation (NASDAQ:NVDA) by 7.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,217 shares of the computer hardware maker’s stock after selling 2,250 shares during the period. NVIDIA accounts for 2.8% of Saxony Capital Management LLC’s investment portfolio, making the stock its 7th largest holding. Saxony Capital Management LLC’s holdings in NVIDIA were worth $3,167,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NVDA. Centerpoint Advisory Group boosted its stake in NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker’s stock worth $4,270,000 after purchasing an additional 943 shares during the period. GSB Wealth Management LLC boosted its stake in NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock worth $3,534,000 after purchasing an additional 1,043 shares during the period. Variant Private Wealth LLC boosted its stake in NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock worth $2,038,000 after purchasing an additional 3,206 shares during the period. Financial Perspectives Inc boosted its stake in NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock worth $4,981,000 after purchasing an additional 1,265 shares during the period. Finally, Hickory Point Bank & Trust acquired a new stake in NVIDIA during the 4th quarter worth $2,272,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVDA stock opened at $171.37 on Thursday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $172.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The company has a 50 day moving average price of $144.76 and a 200 day moving average price of $129.39. The firm has a market capitalization of $4.18 trillion, a price-to-earnings ratio of 55.28, a price-to-earnings-growth ratio of 1.51 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 the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the company posted $0.61 EPS. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. Sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the business’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 transaction of $131,760,200.00. Following the completion of the sale, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’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 transaction of $142,800,000.00. Following the sale, the director 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,767,150 shares of company stock worth $701,030,045. 4.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NVDA. Barclays raised their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 17th. William Blair restated an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Rosenblatt Securities raised their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Piper Sandler restated an “overweight” rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Finally, Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

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.