Nova R Wealth Inc. Lowers Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Nova R Wealth Inc. decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 7.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,391 shares of the computer hardware maker’s stock after selling 966 shares during the quarter. Nova R Wealth Inc.’s holdings in NVIDIA were worth $1,235,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Condor Capital Management raised its holdings in NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock worth $344,000 after purchasing an additional 89 shares during the last quarter. Kelly Financial Services LLC lifted its holdings in NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock valued at $513,000 after purchasing an additional 94 shares during the last quarter. Macroview Investment Management LLC increased its position in shares of NVIDIA by 2.9% during the fourth quarter. Macroview Investment Management LLC now owns 3,434 shares of the computer hardware maker’s stock valued at $461,000 after buying an additional 96 shares during the period. Foundry Financial Group Inc. increased its position in shares of NVIDIA by 2.2% during the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker’s stock valued at $589,000 after buying an additional 96 shares during the period. Finally, Wallace Hart LLC grew its stake in NVIDIA by 3.9% in the 4th quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker’s stock worth $349,000 after buying an additional 97 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on NVDA. DA Davidson raised their price target on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, May 29th. Barclays lifted their price objective on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. TD Cowen upped their price objective on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Finally, UBS Group restated a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $173.00 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $174.16. The company has a market capitalization of $4.22 trillion, a P/E ratio of 55.81, a P/E/G ratio of 1.51 and a beta of 2.13. The firm’s 50 day simple moving average is $145.88 and its two-hundred day simple moving average is $129.63.

NVIDIA (NASDAQ:NVDA) last posted 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter last year, the firm earned $0.61 EPS. The company’s revenue was up 69.2% on a year-over-year basis. Research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Monday, July 14th. The stock was 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 directly owned 74,648,225 shares of the company’s stock, valued at $12,269,182,261. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 27,650 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the completion of the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,814,800 shares of company stock valued at $709,172,753 in the last 90 days. 4.17% of the stock is currently owned by company insiders.

NVIDIA Company 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.