Investment Management Associates Inc. ADV Sells 1,000 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Investment Management Associates Inc. ADV reduced its position in NVIDIA Corporation (NASDAQ:NVDA) by 33.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,030 shares of the computer hardware maker’s stock after selling 1,000 shares during the quarter. NVIDIA makes up about 0.1% of Investment Management Associates Inc. ADV’s investment portfolio, making the stock its 23rd largest holding. Investment Management Associates Inc. ADV’s holdings in NVIDIA were worth $220,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Burford Brothers Inc. raised its stake in NVIDIA by 12.1% during the first quarter. Burford Brothers Inc. now owns 11,810 shares of the computer hardware maker’s stock valued at $1,280,000 after purchasing an additional 1,278 shares in the last quarter. CFC Planning Co LLC raised its stake in NVIDIA by 32.5% during the first quarter. CFC Planning Co LLC now owns 8,054 shares of the computer hardware maker’s stock valued at $873,000 after purchasing an additional 1,975 shares in the last quarter. MJP Associates Inc. ADV raised its stake in NVIDIA by 1.9% during the first quarter. MJP Associates Inc. ADV now owns 96,444 shares of the computer hardware maker’s stock valued at $10,453,000 after purchasing an additional 1,816 shares in the last quarter. Bernardo Wealth Planning LLC raised its stake in NVIDIA by 10.6% during the first quarter. Bernardo Wealth Planning LLC now owns 9,564 shares of the computer hardware maker’s stock valued at $1,037,000 after purchasing an additional 918 shares in the last quarter. Finally, Cerity Partners LLC raised its stake in NVIDIA by 16.5% during the first quarter. Cerity Partners LLC now owns 10,806,277 shares of the computer hardware maker’s stock valued at $1,166,476,000 after purchasing an additional 1,526,640 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $178.26 on Wednesday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.30. The company has a market cap of $4.35 trillion, a PE ratio of 57.50, a P/E/G ratio of 1.59 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 business has a 50-day simple moving average of $157.13 and a 200-day simple moving average of $132.90.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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 company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the firm posted $0.61 earnings per share. The business’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s payout ratio is currently 1.29%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Loop Capital boosted their price objective on shares of NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. DA Davidson boosted their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. Finally, Piper Sandler reiterated an “overweight” rating and set a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $182.03.

Insider Buying and Selling

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 stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares of the company’s stock, valued at $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 available 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 shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,489,800 shares of company stock valued at $826,553,003. Corporate insiders own 4.17% of the company’s stock.

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.