Grant Street Asset Management Inc. Sells 195 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Grant Street Asset Management Inc. trimmed its position in NVIDIA Corporation (NASDAQ:NVDA) by 5.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 3,725 shares of the computer hardware maker’s stock after selling 195 shares during the period. Grant Street Asset Management Inc.’s holdings in NVIDIA were worth $404,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Copia Wealth Management bought a new position in NVIDIA during the 4th quarter worth $50,000. Barnes Dennig Private Wealth Management LLC bought a new position in shares of NVIDIA in the 1st quarter worth about $51,000. Bruce G. Allen Investments LLC raised its position in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after acquiring an additional 327 shares in the last quarter. LSV Asset Management bought a new position in shares of NVIDIA in the 4th quarter worth about $54,000. Finally, Delos Wealth Advisors LLC raised its position in shares of NVIDIA by 134.8% in the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock worth $66,000 after acquiring an additional 283 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Ajay K. Puri sold 168,195 shares of the company’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 transaction, the executive vice president owned 4,018,547 shares of the company’s stock, valued at approximately $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director directly 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. In the last three months, insiders sold 5,687,440 shares of company stock worth $862,095,782. Company insiders own 4.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NVDA. TD Cowen lifted their price objective on NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Rosenblatt Securities lifted their price objective on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Raymond James Financial lifted their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 29th. Finally, Bank of America raised their target price on NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $183.75.

NVIDIA Trading Down 0.4%

Shares of NVDA stock opened at $182.06 on Tuesday. The company’s fifty day simple moving average is $160.71 and its two-hundred day simple moving average is $133.89. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $183.88. The stock has a market capitalization of $4.44 trillion, a price-to-earnings ratio of 58.73, a PEG ratio of 1.61 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $43.09 billion. During the same period in the previous year, the firm earned $0.61 EPS. The company’s revenue was up 69.2% compared to the same quarter last year. As a group, analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

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.