Legacy Wealth Management Inc Sells 1,202 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Legacy Wealth Management Inc lowered its stake in NVIDIA Corporation (NASDAQ:NVDA) by 23.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,833 shares of the computer hardware maker’s stock after selling 1,202 shares during the period. NVIDIA makes up 0.0% of Legacy Wealth Management Inc’s holdings, making the stock its 27th biggest holding. Legacy Wealth Management Inc’s holdings in NVIDIA were worth $415,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wall Street Financial Group Inc. lifted its stake in NVIDIA by 10.0% in the first quarter. Wall Street Financial Group Inc. now owns 16,442 shares of the computer hardware maker’s stock valued at $1,782,000 after buying an additional 1,493 shares during the period. Westfuller Advisors LLC grew its holdings in NVIDIA by 5.3% during the first quarter. Westfuller Advisors LLC now owns 24,771 shares of the computer hardware maker’s stock worth $2,685,000 after buying an additional 1,238 shares in the last quarter. Clay Northam Wealth Management LLC grew its holdings in NVIDIA by 4.4% during the first quarter. Clay Northam Wealth Management LLC now owns 32,101 shares of the computer hardware maker’s stock worth $3,479,000 after buying an additional 1,341 shares in the last quarter. Aljian Capital Management LLC grew its holdings in NVIDIA by 1.3% during the first quarter. Aljian Capital Management LLC now owns 259,834 shares of the computer hardware maker’s stock worth $28,161,000 after buying an additional 3,455 shares in the last quarter. Finally, Guardian Asset Advisors LLC grew its stake in NVIDIA by 11.8% in the 1st quarter. Guardian Asset Advisors LLC now owns 60,272 shares of the computer hardware maker’s stock valued at $6,532,000 after purchasing an additional 6,382 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NASDAQ:NVDA opened at $171.38 on Tuesday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $174.25. The stock has a 50 day moving average of $146.99 and a two-hundred day moving average of $129.81. 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 firm has a market cap of $4.18 trillion, a P/E ratio of 55.28, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last posted 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 analyst estimates of $43.09 billion. During the same period last year, the business earned $0.61 EPS. NVIDIA’s revenue was up 69.2% compared to the same quarter last year. On average, analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director owned 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer owned 75,548,225 shares of the company’s stock, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,964,800 shares of company stock worth $734,906,003. Corporate insiders own 4.17% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of several analyst reports. UBS Group restated a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. Benchmark reissued a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Thursday, May 29th. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Finally, 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 price target on the stock. One investment 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. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $181.22.

NVIDIA Company 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.