Sharpepoint LLC Reduces Position in NVIDIA Corporation (NASDAQ:NVDA)

Sharpepoint LLC lowered its position in NVIDIA Corporation (NASDAQ:NVDA) by 9.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,067 shares of the computer hardware maker’s stock after selling 3,166 shares during the quarter. NVIDIA makes up about 3.1% of Sharpepoint LLC’s portfolio, making the stock its 6th biggest position. Sharpepoint LLC’s holdings in NVIDIA were worth $3,496,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the 4th quarter valued at $28,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at $38,000. Copia Wealth Management purchased a new stake in shares of NVIDIA during the 4th quarter valued at $50,000. LSV Asset Management purchased a new stake in shares of NVIDIA during the 4th quarter valued at $54,000. Finally, Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA during the 1st quarter valued at $51,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $180.00 on Tuesday. The company has a fifty day simple moving average of $156.27 and a two-hundred day simple moving average of $132.58. The company has a market cap of $4.39 trillion, a price-to-earnings ratio of 58.06, a price-to-earnings-growth 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 Corporation has a 52 week low of $86.62 and a 52 week high of $183.30.

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

NVIDIA Dividend Announcement

The firm 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 annualized dividend and a dividend yield of 0.0%. NVIDIA’s payout ratio is 1.29%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NVDA. Jefferies Financial Group increased their price objective on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Morgan Stanley raised their target price on NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 30th. Phillip Securities upgraded NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 14th. Citigroup raised their target price on NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Monday, July 7th. Finally, Loop Capital raised their target price on NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 25th. One research 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 given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $182.03.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of the business’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the completion of the transaction, the executive vice president owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction 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 owned 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,339,800 shares of company stock worth $800,141,003. 4.17% of the stock is currently owned by insiders.

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.