Philip James Wealth Mangement LLC Lowers Position in NVIDIA Corporation (NASDAQ:NVDA)

Philip James Wealth Mangement LLC lessened its stake in NVIDIA Corporation (NASDAQ:NVDA) by 25.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,805 shares of the computer hardware maker’s stock after selling 4,678 shares during the period. Philip James Wealth Mangement LLC’s holdings in NVIDIA were worth $1,496,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of NVDA. Tacita Capital Inc purchased a new position in shares of NVIDIA during the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the 4th quarter worth $38,000. Copia Wealth Management acquired a new stake in shares of NVIDIA in the 4th quarter worth $50,000. Bruce G. Allen Investments LLC increased its stake in shares of NVIDIA by 198.2% in the 1st 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 last quarter. Finally, LSV Asset Management acquired a new stake in shares of NVIDIA in the 4th quarter worth $54,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on NVDA shares. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Mizuho set a $192.00 price objective on NVIDIA and gave the company an “outperform” rating in a research note on Tuesday. Barclays lifted their price objective on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. The Goldman Sachs Group initiated coverage on NVIDIA in a research report on Thursday, July 10th. They set a “buy” rating and a $185.00 target price on the stock. Finally, Needham & Company LLC lifted their price target on NVIDIA from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have issued a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

NVIDIA Stock Down 0.3%

NVDA opened at $172.41 on Friday. The business’s fifty day moving average is $146.99 and its two-hundred day moving average is $129.86. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. 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 Corporation has a one year low of $86.62 and a one year high of $174.25.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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 net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the prior year, the company earned $0.61 earnings per share. 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 firm also recently announced 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 was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the sale, the director owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,964,800 shares of company stock valued at $734,906,003. 4.17% of the stock is owned by corporate 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.