TFC Financial Management Inc. Has $2.07 Million Holdings in NVIDIA Corporation (NASDAQ:NVDA)

TFC Financial Management Inc. cut its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 16.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,097 shares of the computer hardware maker’s stock after selling 3,677 shares during the period. NVIDIA comprises approximately 0.3% of TFC Financial Management Inc.’s investment portfolio, making the stock its 27th biggest position. TFC Financial Management Inc.’s holdings in NVIDIA were worth $2,070,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tacita Capital Inc bought a new stake in NVIDIA during the fourth quarter valued at $28,000. Vision Financial Markets LLC bought a new position in NVIDIA in the 4th quarter valued at about $38,000. Copia Wealth Management bought a new position in NVIDIA in the 4th quarter valued at about $50,000. LSV Asset Management bought a new position in NVIDIA in the 4th quarter valued at about $54,000. Finally, Bruce G. Allen Investments LLC lifted its position 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 in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Down 0.3%

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

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the company earned $0.61 EPS. The firm’s revenue was up 69.2% compared to the same quarter last year. Analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is currently 1.29%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Morgan Stanley reissued an “overweight” rating and set a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. DA Davidson lifted their target price on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. Arete Research raised shares of NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. Finally, Wedbush reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $181.22.

Insiders Place Their Bets

In other NVIDIA news, Director A Brooke Seawell sold 48,792 shares of NVIDIA stock in a transaction dated Monday, July 14th. The stock was 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 owned 1,729,478 shares of the company’s stock, valued at $283,565,212.88. The trade was a 2.74% 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, CFO Colette Kress sold 27,650 shares of NVIDIA stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total value of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares of the company’s stock, valued at approximately $510,023,939.24. This trade represents a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,964,800 shares of company stock valued at $734,906,003 over the last 90 days. Insiders own 4.17% of the company’s stock.

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.