NVIDIA Corporation (NASDAQ:NVDA) Stake Decreased by Wealth Effects LLC

Wealth Effects LLC lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,359 shares of the computer hardware maker’s stock after selling 13,792 shares during the quarter. NVIDIA makes up about 8.3% of Wealth Effects LLC’s investment portfolio, making the stock its largest holding. Wealth Effects LLC’s holdings in NVIDIA were worth $19,656,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Tacita Capital Inc bought a new stake in shares of NVIDIA during the fourth quarter worth $28,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA during the 4th quarter worth approximately $38,000. Copia Wealth Management acquired a new position in NVIDIA in the 4th quarter valued at $50,000. LSV Asset Management bought a new position in shares of NVIDIA in the 4th quarter valued at $54,000. Finally, Bruce G. Allen Investments LLC grew its position 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 buying an additional 327 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Up 1.0%

Shares of NVDA stock opened at $173.00 on Friday. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $174.16. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm’s fifty day simple moving average is $145.88 and its 200 day simple moving average is $129.63. The firm has a market capitalization of $4.22 trillion, a P/E ratio of 55.81, a price-to-earnings-growth ratio of 1.51 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders 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 dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 27,650 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the transaction, the chief financial officer owned 2,984,516 shares in the company, valued at $510,023,939.24. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm’s 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 directly 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 4,814,800 shares of company stock worth $709,172,753. Company insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Piper Sandler reissued an “overweight” rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. Phillip Securities raised NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a research report on Monday. Truist Financial upped their target price on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Oppenheimer increased their price target on shares of NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Jefferies Financial Group raised their target price on shares of NVIDIA from $185.00 to $200.00 in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have assigned a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $181.22.

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.