NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Opulen Financial Group LLC

Opulen Financial Group LLC reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,624 shares of the computer hardware maker’s stock after selling 132 shares during the period. Opulen Financial Group LLC’s holdings in NVIDIA were worth $610,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NVDA. Montrusco Bolton Investments Inc. grew its position in shares of NVIDIA by 9.5% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 5,296,119 shares of the computer hardware maker’s stock valued at $560,656,000 after buying an additional 457,631 shares during the last quarter. Concord Wealth Partners raised its stake in NVIDIA by 1.4% during the first quarter. Concord Wealth Partners now owns 190,403 shares of the computer hardware maker’s stock worth $20,636,000 after acquiring an additional 2,603 shares during the period. Burns Matteson Capital Management LLC raised its stake in NVIDIA by 20.7% during the first quarter. Burns Matteson Capital Management LLC now owns 26,563 shares of the computer hardware maker’s stock worth $2,879,000 after acquiring an additional 4,550 shares during the period. Litman Gregory Wealth Management LLC raised its stake in NVIDIA by 34.5% during the first quarter. Litman Gregory Wealth Management LLC now owns 4,485 shares of the computer hardware maker’s stock worth $486,000 after acquiring an additional 1,150 shares during the period. Finally, Ascent Wealth Partners LLC raised its stake in NVIDIA by 2.3% during the first quarter. Ascent Wealth Partners LLC now owns 63,929 shares of the computer hardware maker’s stock worth $6,929,000 after acquiring an additional 1,456 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Down 0.8%

NVIDIA stock opened at $181.62 on Thursday. The firm has a market cap of $4.43 trillion, a PE ratio of 58.59, a P/E/G ratio of 1.61 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39. The firm’s 50 day moving average price is $162.34 and its two-hundred day moving average price is $134.56. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48.

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 during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business’s revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 earnings per share. On average, research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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 $0.01 dividend. 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 payout ratio is currently 1.29%.

Analysts Set New Price Targets

Several research firms recently weighed in on NVDA. Bank of America increased their price objective on shares of NVIDIA from $180.00 to $220.00 in a research note on Wednesday, July 16th. Citigroup lifted their price objective 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. Needham & Company LLC lifted their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. Finally, Barclays lifted their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Tuesday, June 17th. One research analyst has rated the stock with a sell rating, five have assigned 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $185.97.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total transaction of $13,603,500.00. Following the completion of the sale, the chief executive officer directly owned 72,998,225 shares of the company’s stock, valued at approximately $13,240,418,050.50. This represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 27,640 shares of the company’s stock in a transaction on Monday, August 4th. The stock was sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the sale, the chief financial officer directly owned 2,956,876 shares of the company’s stock, valued at approximately $526,501,340.56. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,837,440 shares of company stock valued at $889,404,782 over the last three months. Insiders own 4.17% of the company’s stock.

NVIDIA 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.