Adapt Wealth Advisors LLC Sells 1,055 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Adapt Wealth Advisors LLC reduced its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 11.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,865 shares of the computer hardware maker’s stock after selling 1,055 shares during the quarter. Adapt Wealth Advisors LLC’s holdings in NVIDIA were worth $852,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CFO4Life Group LLC raised its position in NVIDIA by 16.4% during the first quarter. CFO4Life Group LLC now owns 41,233 shares of the computer hardware maker’s stock worth $4,469,000 after acquiring an additional 5,801 shares in the last quarter. POM Investment Strategies LLC raised its position in shares of NVIDIA by 201.2% in the first quarter. POM Investment Strategies LLC now owns 5,681 shares of the computer hardware maker’s stock valued at $616,000 after purchasing an additional 3,795 shares during the period. MainStreet Investment Advisors LLC raised its position in shares of NVIDIA by 2.4% in the first quarter. MainStreet Investment Advisors LLC now owns 81,072 shares of the computer hardware maker’s stock valued at $8,787,000 after purchasing an additional 1,894 shares during the period. Investments & Financial Planning LLC raised its position in shares of NVIDIA by 4.4% in the first quarter. Investments & Financial Planning LLC now owns 24,037 shares of the computer hardware maker’s stock valued at $2,605,000 after purchasing an additional 1,005 shares during the period. Finally, Heritage Wealth Management Inc. CA raised its position in shares of NVIDIA by 28.5% in the first quarter. Heritage Wealth Management Inc. CA now owns 11,625 shares of the computer hardware maker’s stock valued at $1,260,000 after purchasing an additional 2,578 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $180.00 on Tuesday. The company has a market capitalization of $4.39 trillion, a PE ratio of 58.06, a P/E/G ratio of 1.53 and a beta of 2.14. 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 50-day simple moving average of $156.27 and a two-hundred day simple moving average of $132.58. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.30.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the firm posted $0.61 earnings per share. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. Research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on NVDA shares. Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. The Goldman Sachs Group started coverage on shares of NVIDIA in a research report on Thursday, July 10th. They issued a “buy” rating and a $185.00 price objective on the stock. Oppenheimer increased their price objective on shares of NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Benchmark reissued a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $182.03.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director owned 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,339,800 shares of company stock valued at $800,141,003. 4.17% of the stock is owned by company 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.