Slocum Gordon & Co LLP lessened its stake in shares of NVIDIA Corporation (NASDAQ:NVDA – Free Report) by 79.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 500 shares of the computer hardware maker’s stock after selling 1,910 shares during the period. Slocum Gordon & Co LLP’s holdings in NVIDIA were worth $54,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Tacita Capital Inc bought a new position in shares of NVIDIA in the 4th quarter valued at $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA in the 4th quarter valued at $38,000. Copia Wealth Management bought a new position in shares of NVIDIA in the 4th quarter valued at $50,000. Bruce G. Allen Investments LLC increased its stake in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after purchasing an additional 327 shares during the last quarter. Finally, LSV Asset Management bought a new position in shares of NVIDIA in the 4th quarter valued at $54,000. Institutional investors own 65.27% of the company’s stock.
Insider Transactions at NVIDIA
In related news, EVP Ajay K. Puri sold 168,195 shares of the company’s stock in a transaction that occurred on 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 approximately $613,391,014.08. This represents a 4.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,767,150 shares of company stock valued at $701,030,045 in the last 90 days. Corporate insiders own 4.17% of the company’s stock.
NVIDIA Stock Up 0.4%
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data 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 business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the firm earned $0.61 earnings per share. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. Equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.
NVIDIA Dividend Announcement
The company 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 (DPR) is currently 1.29%.
Wall Street Analysts Forecast Growth
Several equities research analysts recently weighed in on the company. Summit Insights raised NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. Oppenheimer raised their price objective on NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday. Susquehanna reissued a “positive” rating and set a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Raymond James Financial raised their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a report on Thursday, May 29th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.
Get Our Latest Research Report on NVDA
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.
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