NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Phillips Financial Management LLC

Phillips Financial Management LLC cut its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 6.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,960 shares of the computer hardware maker’s stock after selling 1,011 shares during the period. Phillips Financial Management LLC’s holdings in NVIDIA were worth $1,730,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tacita Capital Inc acquired a new position in shares of NVIDIA during the fourth quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA in the fourth quarter worth approximately $38,000. Copia Wealth Management acquired a new stake in NVIDIA in the fourth quarter worth approximately $50,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in NVIDIA in the first quarter worth approximately $51,000. Finally, Bruce G. Allen Investments LLC lifted its position in NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after purchasing an additional 327 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 1.0%

NVIDIA stock opened at $178.26 on Wednesday. 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 company has a market capitalization of $4.35 trillion, a price-to-earnings ratio of 57.50, a PEG ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a one year low of $86.62 and a one year high of $183.30. The company’s fifty day moving average price is $157.13 and its two-hundred day moving average price is $132.90.

NVIDIA (NASDAQ:NVDA) last posted its 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 for 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 company’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 earnings per share. On average, analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the company’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the sale, the chief executive officer owned 75,548,225 shares of the company’s stock, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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.

Analysts Set New Price Targets

NVDA has been the subject of a number of research analyst reports. 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. Rosenblatt Securities upped their target price on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Jefferies Financial Group upped their target price on NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Mizuho set a $192.00 price objective on NVIDIA and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Finally, Loop Capital increased their price objective on NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. 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 given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $182.03.

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.