NVIDIA Corporation (NASDAQ:NVDA) Stock Position Reduced by Austin Asset Management Co Inc

Austin Asset Management Co Inc lowered its stake in NVIDIA Corporation (NASDAQ:NVDA) by 0.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 234,763 shares of the computer hardware maker’s stock after selling 193 shares during the quarter. NVIDIA comprises approximately 5.6% of Austin Asset Management Co Inc’s holdings, making the stock its 5th largest holding. Austin Asset Management Co Inc’s holdings in NVIDIA were worth $25,444,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Centerpoint Advisory Group raised its position in shares of NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker’s stock valued at $4,270,000 after buying an additional 943 shares in the last quarter. GSB Wealth Management LLC raised its position in shares of NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock valued at $3,534,000 after buying an additional 1,043 shares in the last quarter. Variant Private Wealth LLC raised its position in shares of NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock valued at $2,038,000 after buying an additional 3,206 shares in the last quarter. Financial Perspectives Inc raised its position in shares of NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock valued at $4,981,000 after buying an additional 1,265 shares in the last quarter. Finally, Hickory Point Bank & Trust purchased a new stake in shares of NVIDIA during the 4th quarter valued at about $2,272,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on NVDA shares. Jefferies Financial Group upped their price target on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday. UBS Group reiterated a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. DA Davidson upped their price target on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Finally, Phillip Securities upgraded shares of NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 14th. One 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 given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

NVIDIA Trading Down 0.3%

Shares of NVIDIA stock opened at $172.41 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 firm has a fifty day moving average price of $146.99 and a 200 day moving average price of $129.90. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $174.25. The stock has a market cap of $4.21 trillion, a PE ratio of 55.62, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same period last year, the business earned $0.61 EPS. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. Equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. 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 is presently 1.29%.

Insider Activity at NVIDIA

In related news, Director A Brooke Seawell sold 48,792 shares of the firm’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 sale, the director owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. This trade represents a 2.74% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 27,650 shares of the firm’s stock in a transaction 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 sale, the chief financial officer owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,964,800 shares of company stock worth $734,906,003. 4.17% of the stock is owned by company insiders.

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.