Fortis Group Advisors LLC Lowers Position in NVIDIA Corporation (NASDAQ:NVDA)

Fortis Group Advisors LLC lessened its stake in NVIDIA Corporation (NASDAQ:NVDA) by 3.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 27,204 shares of the computer hardware maker’s stock after selling 1,079 shares during the period. Fortis Group Advisors LLC’s holdings in NVIDIA were worth $2,948,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Copia Wealth Management purchased a new stake in NVIDIA in the 4th quarter worth approximately $50,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in NVIDIA in the 1st quarter worth approximately $51,000. Bruce G. Allen Investments LLC boosted its position in 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 purchasing an additional 327 shares in the last quarter. LSV Asset Management purchased a new stake in NVIDIA in the 4th quarter worth approximately $54,000. Finally, Delos Wealth Advisors LLC lifted its position in shares of NVIDIA by 134.8% during the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock valued at $66,000 after buying an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 168,195 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This trade represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,837,440 shares of company stock valued at $889,404,782. Insiders own 4.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. Loop Capital increased their target price on 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 target price on shares of NVIDIA in a research report on Wednesday, April 16th. Finally, TD Cowen increased 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have assigned a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $185.97.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $181.62 on Thursday. The business has a 50-day moving average of $162.34 and a 200 day moving average of $134.56. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48. The stock has a market capitalization of $4.43 trillion, a price-to-earnings ratio of 58.59, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. 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 (NASDAQ:NVDA) last announced its earnings results 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 net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter last year, the business earned $0.61 earnings per share. The business’s revenue was up 69.2% compared to the same quarter last year. As a group, 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 issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is 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.