Code Waechter LLC Lowers Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Code Waechter LLC lowered its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 15.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,914 shares of the computer hardware maker’s stock after selling 899 shares during the period. Code Waechter LLC’s holdings in NVIDIA were worth $533,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Condor Capital Management grew its position in NVIDIA by 3.6% during the fourth quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock valued at $344,000 after acquiring an additional 89 shares during the period. Kelly Financial Services LLC grew its position in NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock valued at $513,000 after acquiring an additional 94 shares during the period. Foundry Financial Group Inc. grew its position in NVIDIA by 2.2% during the fourth quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker’s stock valued at $589,000 after acquiring an additional 96 shares during the period. Mendel Capital Management LLC grew its position in NVIDIA by 0.8% during the first quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker’s stock valued at $1,287,000 after acquiring an additional 96 shares during the period. Finally, Wallace Hart LLC grew its position in NVIDIA by 3.9% during the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker’s stock valued at $349,000 after acquiring an additional 97 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 3.6%

Shares of NASDAQ NVDA opened at $180.00 on Tuesday. The stock’s 50 day moving average price is $156.27 and its two-hundred day moving average price is $132.58. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $183.30. The stock has a market capitalization of $4.39 trillion, a P/E ratio of 58.06, a PEG ratio of 1.53 and a beta of 2.14. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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 net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the company earned $0.61 EPS. The company’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio is presently 1.29%.

Analyst Upgrades and Downgrades

NVDA has been the subject of several analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. Barclays upped their target price on NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 17th. Raymond James Financial upped their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Finally, Truist Financial upped their target price on NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. One investment 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. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.03.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 27,650 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $170.89, for a total transaction of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares in the company, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director A Brooke Seawell sold 48,792 shares of the stock in a transaction that occurred 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 sale, the director owned 1,729,478 shares in the company, valued at $283,565,212.88. The trade was a 2.74% 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 worth $800,141,003. 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.