Townsend & Associates Inc Sells 954 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Townsend & Associates Inc reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 12.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,689 shares of the computer hardware maker’s stock after selling 954 shares during the quarter. Townsend & Associates Inc’s holdings in NVIDIA were worth $725,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. Wealth Group Ltd. grew its holdings in shares of NVIDIA by 1.8% during the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock valued at $766,000 after buying an additional 100 shares during the last quarter. Tallon Kerry Patrick purchased a new stake in NVIDIA in the fourth quarter worth approximately $972,000. Capital & Planning LLC boosted its holdings in NVIDIA by 16.9% in the fourth quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock worth $1,021,000 after purchasing an additional 1,099 shares during the last quarter. Ironwood Wealth Management LLC. boosted its holdings in NVIDIA by 1.6% in the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock worth $871,000 after purchasing an additional 104 shares during the last quarter. Finally, Brighton Jones LLC boosted its holdings in NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after purchasing an additional 35,815 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Up 2.2%

NASDAQ NVDA opened at $170.78 on Thursday. The company has a fifty day simple moving average of $149.41 and a two-hundred day simple moving average of $130.53. The stock has a market cap of $4.17 trillion, a P/E ratio of 55.09, a P/E/G ratio of 1.47 and a beta of 2.13. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $174.25. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

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, analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current 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 $0.01 dividend. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s payout ratio is 1.29%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NVDA. Oppenheimer raised their target price on shares of NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a report on Tuesday, July 15th. Barclays raised their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, June 17th. Truist Financial raised their target price on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Raymond James Financial raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 29th. Finally, Citigroup lifted their price target on shares of NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. One 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.22.

Insider Activity

In other news, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director directly owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,114,800 shares of company stock worth $760,553,003 over the last three months. Corporate insiders own 4.17% of the company’s stock.

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.