Smallwood Wealth Investment Management LLC Trims Stake in NVIDIA Corporation (NASDAQ:NVDA)

Smallwood Wealth Investment Management LLC reduced its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 1.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,592 shares of the computer hardware maker’s stock after selling 200 shares during the period. NVIDIA comprises 0.9% of Smallwood Wealth Investment Management LLC’s portfolio, making the stock its 21st largest holding. Smallwood Wealth Investment Management LLC’s holdings in NVIDIA were worth $1,473,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Condor Capital Management boosted its position in shares of NVIDIA by 3.6% in the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock worth $344,000 after purchasing an additional 89 shares during the period. Kelly Financial Services LLC boosted its position in shares of NVIDIA by 2.0% in the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock worth $513,000 after purchasing an additional 94 shares during the period. Foundry Financial Group Inc. boosted its position in shares of NVIDIA by 2.2% in the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker’s stock worth $589,000 after purchasing an additional 96 shares during the period. Mendel Capital Management LLC boosted its position in shares of NVIDIA by 0.8% during the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker’s stock worth $1,287,000 after acquiring an additional 96 shares during the last quarter. Finally, Wallace Hart LLC boosted its position in shares of NVIDIA by 3.9% during the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker’s stock worth $349,000 after acquiring an additional 97 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 owned 4,018,547 shares in the company, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,114,800 shares of company stock worth $760,553,003. 4.17% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. UBS Group restated a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. Truist Financial upped their target price on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Benchmark restated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Finally, DA Davidson upped 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $181.22.

NVIDIA Trading Up 1.7%

NVDA stock opened at $173.74 on Friday. The company has a market capitalization of $4.24 trillion, a PE ratio of 56.05, a P/E/G ratio of 1.50 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 firm’s 50-day moving average is $150.19 and its 200 day moving average is $130.70. 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 (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS. On average, research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. 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 is presently 1.29%.

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.