Primoris Wealth Advisors LLC Trims Stake in NVIDIA Corporation (NASDAQ:NVDA)

Primoris Wealth Advisors LLC reduced its position in NVIDIA Corporation (NASDAQ:NVDA) by 27.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,773 shares of the computer hardware maker’s stock after selling 8,985 shares during the quarter. NVIDIA accounts for approximately 2.0% of Primoris Wealth Advisors LLC’s holdings, making the stock its 16th biggest holding. Primoris Wealth Advisors LLC’s holdings in NVIDIA were worth $2,577,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Tacita Capital Inc purchased a new position in shares of NVIDIA during the fourth quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA during the fourth quarter worth approximately $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA during the fourth quarter worth approximately $50,000. LSV Asset Management purchased a new position in shares of NVIDIA during the fourth quarter worth approximately $54,000. Finally, Bruce G. Allen Investments LLC increased its position in shares of NVIDIA by 198.2% during the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after acquiring an additional 327 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 0.3%

NASDAQ:NVDA opened at $172.41 on Friday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.25. The firm has a fifty day simple moving average of $146.99 and a 200-day simple moving average of $129.90. 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 company has a market capitalization of $4.21 trillion, a P/E ratio of 55.62, a PEG 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. On average, equities research analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued 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 dividend yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 935,000 shares of the firm’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 of the company’s stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm’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 directly owned 75,548,225 shares of the company’s stock, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,964,800 shares of company stock worth $734,906,003. 4.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on NVDA shares. Arete Research raised shares of NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. The Goldman Sachs Group started coverage on shares of NVIDIA in a research note on Thursday, July 10th. They set a “buy” rating and a $185.00 price objective on the stock. Jefferies Financial Group increased their price objective on shares of NVIDIA from $185.00 to $200.00 in a research note on Wednesday. Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. Finally, TD Cowen increased their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.