Terra Nova Asset Management LLC Sells 17,482 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Terra Nova Asset Management LLC trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA) by 54.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,614 shares of the computer hardware maker’s stock after selling 17,482 shares during the period. Terra Nova Asset Management LLC’s holdings in NVIDIA were worth $1,584,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tacita Capital Inc acquired a new stake in NVIDIA in the fourth quarter valued at $28,000. Vision Financial Markets LLC purchased a new stake 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. Bruce G. Allen Investments LLC raised its holdings in 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 acquiring an additional 327 shares during the last quarter. Finally, LSV Asset Management acquired a new stake in shares of NVIDIA during the 4th quarter worth $54,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NVDA shares. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. Benchmark reiterated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. 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 company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.22.

Insiders Place Their Bets

In other news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $12,269,182,261. The trade was a 0.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director A Brooke Seawell sold 48,792 shares of the business’s stock in a transaction on Monday, July 14th. The shares were 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 in the company, valued at $283,565,212.88. This represents a 2.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,814,800 shares of company stock valued at $709,172,753. Company insiders own 4.17% of the company’s stock.

NVIDIA Trading Up 1.0%

NVIDIA stock 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. The company has a market capitalization of $4.22 trillion, a price-to-earnings ratio of 55.81, a PEG ratio of 1.51 and a beta of 2.13. NVIDIA Corporation has a one year low of $86.62 and a one year high of $174.16. The company’s fifty day moving average price is $145.88 and its two-hundred day moving average price is $129.63.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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 company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 EPS. On average, analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders 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 was Wednesday, June 11th. NVIDIA’s dividend payout ratio is presently 1.29%.

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.