Peddock Capital Advisors LLC Sells 27,385 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Peddock Capital Advisors LLC cut its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 6.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 401,851 shares of the computer hardware maker’s stock after selling 27,385 shares during the quarter. NVIDIA comprises approximately 11.0% of Peddock Capital Advisors LLC’s portfolio, making the stock its largest holding. Peddock Capital Advisors LLC’s holdings in NVIDIA were worth $43,553,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of NVIDIA in the fourth quarter valued at about $43,515,504,000. GAMMA Investing LLC boosted its holdings in shares of NVIDIA by 12,173.2% in 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 boosted its holdings in shares of NVIDIA by 15.8% in 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. Assenagon Asset Management S.A. boosted its holdings in shares of NVIDIA by 204.6% in 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. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of NVIDIA in the fourth quarter valued at about $2,987,733,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $180.00 on Tuesday. The firm has a 50 day simple moving average of $156.27 and a 200-day simple moving average of $132.58. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The firm has a market cap of $4.39 trillion, a PE ratio of 58.06, a P/E/G ratio of 1.53 and a beta of 2.14. NVIDIA Corporation has a 1-year low of $86.62 and a 1-year high of $183.30.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share 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 firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the firm earned $0.61 EPS. The business’s quarterly revenue was up 69.2% on a year-over-year basis. On average, equities analysts expect 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 given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA’s dividend payout ratio is 1.29%.

Insider Activity at NVIDIA

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

Analyst Ratings Changes

Several brokerages have recently weighed in on NVDA. Benchmark reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Jefferies Financial Group boosted their price objective on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. UBS Group reissued a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. Finally, Rosenblatt Securities boosted their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. One research 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 assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.03.

NVIDIA 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.