GR Financial Group LLC Reduces Position in NVIDIA Corporation (NASDAQ:NVDA)

GR Financial Group LLC lessened its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 12.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,181 shares of the computer hardware maker’s stock after selling 437 shares during the quarter. NVIDIA makes up approximately 0.1% of GR Financial Group LLC’s portfolio, making the stock its 18th biggest position. GR Financial Group LLC’s holdings in NVIDIA were worth $345,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new position in shares of NVIDIA during the fourth quarter valued at $43,515,504,000. GAMMA Investing LLC increased its holdings in shares of NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp increased its holdings in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after acquiring an additional 34,441,082 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of NVIDIA by 204.6% during the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock valued at $3,864,026,000 after acquiring an additional 23,948,733 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVDA. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Piper Sandler reiterated an “overweight” rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Morgan Stanley reiterated an “overweight” rating and issued a $170.00 price objective (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Loop Capital lifted their price objective on NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. Finally, Needham & Company LLC lifted their price objective on NVIDIA from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

NVIDIA Price Performance

NVDA opened at $173.50 on Friday. The business has a fifty day moving average of $150.95 and a 200 day moving average of $130.86. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $174.72. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The stock has a market cap of $4.23 trillion, a P/E ratio of 55.97, a PEG ratio of 1.53 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (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 business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the previous year, the firm earned $0.61 EPS. NVIDIA’s revenue was up 69.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a $0.01 dividend. 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 dividend payout ratio is 1.29%.

Insiders Place Their Bets

In other news, Director A Brooke Seawell sold 48,792 shares of the business’s stock in a transaction on Monday, July 14th. The stock was sold at an average price of $163.96, for a total value of $7,999,936.32. Following the completion of the transaction, the director directly owned 1,729,478 shares of the company’s stock, valued at approximately $283,565,212.88. The trade was a 2.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $169.54, for a total value of $12,715,500.00. Following the completion of the transaction, the chief executive officer directly owned 74,123,225 shares of the company’s stock, valued at approximately $12,566,851,566.50. The trade was 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 5,114,800 shares of company stock worth $760,553,003. 4.17% of the stock is currently owned by company insiders.

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.