NVIDIA Corporation (NASDAQ:NVDA) Stock Position Reduced by Graypoint LLC

Graypoint LLC cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 5.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 401,495 shares of the computer hardware maker’s stock after selling 23,802 shares during the period. NVIDIA makes up 2.7% of Graypoint LLC’s holdings, making the stock its 6th biggest holding. Graypoint LLC’s holdings in NVIDIA were worth $43,514,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Burns Matteson Capital Management LLC increased its position in shares of 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 valued at $2,879,000 after acquiring an additional 4,550 shares during the last quarter. Litman Gregory Wealth Management LLC increased its position in shares of 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 valued at $486,000 after acquiring an additional 1,150 shares during the last quarter. Ascent Wealth Partners LLC increased its position in shares of NVIDIA by 2.3% during the first quarter. Ascent Wealth Partners LLC now owns 63,929 shares of the computer hardware maker’s stock valued at $6,929,000 after acquiring an additional 1,456 shares during the last quarter. Mayflower Financial Advisors LLC increased its position in shares of NVIDIA by 3.0% during the first quarter. Mayflower Financial Advisors LLC now owns 65,748 shares of the computer hardware maker’s stock valued at $7,126,000 after acquiring an additional 1,898 shares during the last quarter. Finally, Hudock Inc. increased its position in shares of NVIDIA by 14.5% during the first quarter. Hudock Inc. now owns 26,869 shares of the computer hardware maker’s stock valued at $2,912,000 after acquiring an additional 3,393 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $11,524,126,241.50. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,837,440 shares of company stock valued at $889,404,782. Company insiders own 4.17% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NVDA. Raymond James Financial lifted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 29th. Wells Fargo & Company lifted their price objective on shares of NVIDIA from $185.00 to $220.00 and gave the company an “overweight” rating in a report on Monday. The Goldman Sachs Group began coverage on shares of NVIDIA in a report on Thursday, July 10th. They issued a “buy” rating and a $185.00 price objective for the company. Wedbush restated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. Finally, Citigroup lifted their price objective on shares of NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $185.97.

NVIDIA Stock Down 0.8%

Shares of NVIDIA stock opened at $181.62 on Thursday. The company has a market cap of $4.43 trillion, a P/E ratio of 58.59, a PEG 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. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. The firm has a fifty day moving average of $162.34 and a two-hundred day moving average of $134.56.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period last year, the company earned $0.61 earnings per share. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. On average, analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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