NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by HighMark Wealth Management LLC

HighMark Wealth Management LLC cut its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 23.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,210 shares of the computer hardware maker’s stock after selling 4,078 shares during the period. NVIDIA makes up about 0.8% of HighMark Wealth Management LLC’s portfolio, making the stock its 16th largest holding. HighMark Wealth Management LLC’s holdings in NVIDIA were worth $1,432,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Holistic Planning LLC grew its position in shares of NVIDIA by 2.1% during the 1st quarter. Holistic Planning LLC now owns 13,337 shares of the computer hardware maker’s stock valued at $1,445,000 after acquiring an additional 275 shares during the period. PDS Planning Inc boosted its holdings in NVIDIA by 8.2% in the 1st quarter. PDS Planning Inc now owns 148,475 shares of the computer hardware maker’s stock worth $16,092,000 after buying an additional 11,309 shares during the last quarter. Motiv8 Investments LLC boosted its holdings in NVIDIA by 4.8% in the 1st quarter. Motiv8 Investments LLC now owns 8,870 shares of the computer hardware maker’s stock worth $961,000 after buying an additional 406 shares during the last quarter. Kraft Davis & Associates LLC boosted its holdings in NVIDIA by 25.3% in the 1st quarter. Kraft Davis & Associates LLC now owns 34,684 shares of the computer hardware maker’s stock worth $3,759,000 after buying an additional 6,996 shares during the last quarter. Finally, MFG Wealth Management Inc. boosted its holdings in NVIDIA by 3.0% in the 1st quarter. MFG Wealth Management Inc. now owns 30,456 shares of the computer hardware maker’s stock worth $3,301,000 after buying an additional 894 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $172.41 on Friday. The company has a fifty day simple moving average of $146.99 and a two-hundred day simple moving average of $129.90. The company has a market cap of $4.21 trillion, a price-to-earnings ratio of 55.62, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $174.25.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion during 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%. The business’s revenue was up 69.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.61 EPS. As a group, equities analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced 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. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s payout ratio is currently 1.29%.

Analysts Set New Price Targets

NVDA has been the topic of several research analyst reports. UBS Group reiterated a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. Arete Research upgraded NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Hsbc Global Res cut NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Finally, Jefferies Financial Group lifted their price objective on NVIDIA from $185.00 to $200.00 in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $181.22.

Insider Activity

In related news, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares in the company, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the transaction, the chief executive officer owned 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,964,800 shares of company stock worth $734,906,003. 4.17% of the stock is currently owned by company 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.