NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Corundum Group Inc.

Corundum Group Inc. reduced its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 46.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,319 shares of the computer hardware maker’s stock after selling 14,844 shares during the period. NVIDIA makes up 0.9% of Corundum Group Inc.’s holdings, making the stock its 22nd biggest position. Corundum Group Inc.’s holdings in NVIDIA were worth $1,877,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NVDA. First Pacific Financial grew its holdings in shares of NVIDIA by 1.2% in the first quarter. First Pacific Financial now owns 15,911 shares of the computer hardware maker’s stock valued at $1,724,000 after purchasing an additional 195 shares during the period. Aurora Private Wealth Inc. raised its stake in NVIDIA by 680.4% during the first quarter. Aurora Private Wealth Inc. now owns 181,367 shares of the computer hardware maker’s stock worth $19,657,000 after purchasing an additional 158,127 shares during the period. Kellett Wealth Advisors LLC boosted its holdings in NVIDIA by 4.7% in the 1st quarter. Kellett Wealth Advisors LLC now owns 9,218 shares of the computer hardware maker’s stock valued at $999,000 after purchasing an additional 413 shares during the last quarter. MOKAN Wealth Management Inc. grew its stake in shares of NVIDIA by 12.8% in the 1st quarter. MOKAN Wealth Management Inc. now owns 20,941 shares of the computer hardware maker’s stock valued at $2,270,000 after buying an additional 2,381 shares during the period. Finally, Independent Solutions Wealth Management LLC grew its stake in shares of NVIDIA by 0.5% in the 1st quarter. Independent Solutions Wealth Management LLC now owns 105,809 shares of the computer hardware maker’s stock valued at $11,468,000 after buying an additional 555 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 0.4%

Shares of NASDAQ NVDA opened at $171.37 on Thursday. The business has a 50-day moving average price of $144.76 and a 200 day moving average price of $129.39. The stock has a market cap of $4.18 trillion, a PE ratio of 55.28, a price-to-earnings-growth ratio of 1.51 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $172.40.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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). The firm had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.61 EPS. Equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

NVDA has been the subject of several analyst reports. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. Bank of America lifted their target price on NVIDIA from $180.00 to $220.00 in a research report on Wednesday. Piper Sandler reiterated an “overweight” rating and set a $180.00 price target (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Morgan Stanley restated an “overweight” rating and issued a $170.00 price objective (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Finally, DA Davidson upped their target price 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. 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 issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $181.22.

Insiders Place Their Bets

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

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.