NVIDIA Corporation (NASDAQ:NVDA) Stock Position Lowered by Adams Diversified Equity Fund Inc.

Adams Diversified Equity Fund Inc. cut its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 2.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,328,000 shares of the computer hardware maker’s stock after selling 38,300 shares during the period. NVIDIA comprises about 5.7% of Adams Diversified Equity Fund Inc.’s holdings, making the stock its 3rd largest position. Adams Diversified Equity Fund Inc.’s holdings in NVIDIA were worth $143,929,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Tacita Capital Inc purchased a new position in NVIDIA in the 4th quarter valued at about $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA in the 4th quarter valued at about $38,000. Copia Wealth Management purchased a new position in NVIDIA in the 4th quarter valued at about $50,000. Bruce G. Allen Investments LLC increased its stake in shares of NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after acquiring an additional 327 shares during the last quarter. Finally, LSV Asset Management acquired a new position in shares of NVIDIA during the 4th quarter valued at about $54,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVDA opened at $171.37 on Thursday. 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. 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 one year low of $86.62 and a one year high of $172.40. The stock’s fifty day moving average is $144.76 and its 200-day moving average is $129.39.

NVIDIA (NASDAQ:NVDA) last released 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). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA’s revenue was up 69.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 earnings per share. Equities analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued 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 of this dividend was Wednesday, June 11th. NVIDIA’s payout ratio is currently 1.29%.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. Wedbush restated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Jefferies Financial Group upped their price objective on NVIDIA from $185.00 to $200.00 in a report on Wednesday. Finally, William Blair restated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. One 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 issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares of the company’s stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated 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 in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,767,150 shares of company stock valued at $701,030,045 in the last three months. 4.17% of the stock is currently owned by 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.