Fonville Wealth Management LLC Sells 2,774 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Fonville Wealth Management LLC lowered its stake in NVIDIA Corporation (NASDAQ:NVDA) by 30.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,300 shares of the computer hardware maker’s stock after selling 2,774 shares during the quarter. Fonville Wealth Management LLC’s holdings in NVIDIA were worth $683,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NVDA. Condor Capital Management grew its holdings in NVIDIA by 3.6% during the 4th quarter. Condor Capital Management now owns 2,559 shares of the computer hardware maker’s stock valued at $344,000 after buying an additional 89 shares in the last quarter. Kelly Financial Services LLC increased its stake in shares of NVIDIA by 2.0% during the first quarter. Kelly Financial Services LLC now owns 4,736 shares of the computer hardware maker’s stock valued at $513,000 after buying an additional 94 shares during the period. Foundry Financial Group Inc. grew its holdings in shares of NVIDIA by 2.2% during the 4th quarter. Foundry Financial Group Inc. now owns 4,387 shares of the computer hardware maker’s stock worth $589,000 after acquiring an additional 96 shares during the period. Mendel Capital Management LLC lifted its position in NVIDIA by 0.8% during the 1st quarter. Mendel Capital Management LLC now owns 11,871 shares of the computer hardware maker’s stock valued at $1,287,000 after acquiring an additional 96 shares during the period. Finally, Wallace Hart LLC grew its stake in shares of NVIDIA by 3.9% in the fourth quarter. Wallace Hart LLC now owns 2,599 shares of the computer hardware maker’s stock worth $349,000 after acquiring an additional 97 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. TD Cowen boosted their target price on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Finally, Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $183.75.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 75,548,225 shares of the company’s stock, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated 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 sale, the director owned 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,537,440 shares of company stock worth $835,035,782. 4.17% of the stock is owned by company insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $179.42 on Thursday. The firm’s 50 day moving average is $158.02 and its two-hundred day moving average is $133.22. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $183.30. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company has a market cap of $4.38 trillion, a P/E ratio of 57.88, a P/E/G ratio of 1.57 and a beta of 2.14.

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). The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm’s revenue was up 69.2% compared to the same quarter last year. During the same period last year, the business earned $0.61 EPS. Analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

NVIDIA Company 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.