Pineridge Advisors LLC Lowers Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Pineridge Advisors LLC trimmed its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 50.0% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 1,408 shares of the computer hardware maker’s stock after selling 1,410 shares during the period. Pineridge Advisors LLC’s holdings in NVIDIA were worth $153,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the business. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the fourth quarter worth about $28,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA in the 4th quarter valued at about $38,000. Copia Wealth Management purchased a new stake in shares of NVIDIA in the 4th quarter valued at about $50,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA in the 1st quarter valued at about $51,000. Finally, Bruce G. Allen Investments LLC lifted its holdings in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after purchasing an additional 327 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on NVDA shares. Wedbush reissued an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Barclays boosted their target price on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Tuesday, June 17th. Truist Financial boosted their target price on NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Piper Sandler reissued an “overweight” rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Finally, Benchmark reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $182.03.

NVIDIA Stock Up 3.6%

Shares of NASDAQ:NVDA opened at $180.00 on Tuesday. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $183.30. 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 market capitalization of $4.39 trillion, a PE ratio of 58.06, a PEG ratio of 1.53 and a beta of 2.14. The company has a 50 day moving average price of $156.27 and a two-hundred day moving average price of $132.58.

NVIDIA (NASDAQ:NVDA) last issued 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 return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the company earned $0.61 EPS. The firm’s revenue was up 69.2% on a year-over-year basis. Analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In other news, Director A Brooke Seawell sold 48,792 shares of the firm’s stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the completion of the sale, the director owned 1,729,478 shares in the company, valued at approximately $283,565,212.88. This trade represents a 2.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 27,650 shares of the firm’s stock in a transaction dated 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,339,800 shares of company stock worth $800,141,003 over the last quarter. 4.17% of the stock is currently owned by 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.