Marks Group Wealth Management Inc Sells 464 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Marks Group Wealth Management Inc lessened its position in NVIDIA Corporation (NASDAQ:NVDA) by 2.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,856 shares of the computer hardware maker’s stock after selling 464 shares during the quarter. Marks Group Wealth Management Inc’s holdings in NVIDIA were worth $2,477,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in NVIDIA in the 4th quarter worth about $43,515,504,000. GAMMA Investing LLC increased its stake in NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after buying an additional 48,439,859 shares during the period. Northern Trust Corp increased its stake in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the period. Assenagon Asset Management S.A. increased its stake in NVIDIA by 204.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock worth $3,864,026,000 after buying an additional 23,948,733 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in NVIDIA in the 4th quarter worth about $2,987,733,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NVDA. DA Davidson raised their price target on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Thursday, May 29th. Citigroup raised their target price on shares of NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. Benchmark reissued a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Rosenblatt Securities raised their target price on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $183.75.

NVIDIA Stock Up 1.1%

NVDA stock opened at $182.67 on Friday. 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 $183.88. The firm has a 50 day moving average of $159.82 and a 200 day moving average of $133.80. The stock has a market capitalization of $4.46 trillion, a PE ratio of 58.93, a price-to-earnings-growth ratio of 1.59 and a beta of 2.14.

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 the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The business’s revenue was up 69.2% on a year-over-year basis. Sell-side analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Activity

In related news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the transaction, the chief executive officer directly owned 75,548,225 shares in the company, valued at $11,524,126,241.50. The trade was a 0.10% decrease in their position. The transaction was disclosed in a document filed 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 shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the transaction, the director owned 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,687,440 shares of company stock valued at $862,095,782. 4.17% of the stock is currently owned by company 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.