NVIDIA Corporation (NASDAQ:NVDA) Position Reduced by Spire Wealth Management

Spire Wealth Management trimmed its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 712,087 shares of the computer hardware maker’s stock after selling 12,995 shares during the quarter. NVIDIA makes up 2.5% of Spire Wealth Management’s portfolio, making the stock its 4th biggest holding. Spire Wealth Management’s holdings in NVIDIA were worth $77,176,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NVDA. Norges Bank purchased a new stake in NVIDIA during the fourth quarter worth $43,515,504,000. GAMMA Investing LLC boosted its position in NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after purchasing an additional 48,439,859 shares in the last quarter. Northern Trust Corp boosted its position in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC lifted its position in shares of NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after acquiring an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock valued at $3,864,026,000 after acquiring an additional 23,948,733 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other news, Director A Brooke Seawell sold 48,792 shares of the stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the sale, the director owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. This trade represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $164.36, for a total value of $12,327,000.00. Following the completion of the sale, the chief executive officer owned 74,648,225 shares of the company’s stock, valued at approximately $12,269,182,261. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,767,150 shares of company stock valued at $701,030,045. Insiders own 4.17% of the company’s stock.

NVIDIA Stock Up 0.4%

Shares of NASDAQ:NVDA opened at $171.37 on Thursday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $172.40. The stock has a market capitalization of $4.18 trillion, a P/E ratio of 55.28, a PEG ratio of 1.51 and a beta of 2.13. The stock has a 50-day simple moving average of $144.76 and a 200-day simple moving average of $129.39.

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 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 company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the business posted $0.61 EPS. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. Equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Analysts Set New Price Targets

Several brokerages have recently issued reports on NVDA. Piper Sandler restated an “overweight” rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. Rosenblatt Securities upped their price objective on NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Bank of America upped their price objective on NVIDIA from $180.00 to $220.00 in a research report on Wednesday. Finally, Jefferies Financial Group upped their price objective on NVIDIA from $185.00 to $200.00 in a research report on Wednesday. One 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.