Darden Wealth Group Inc Has $20.95 Million Stake in NVIDIA Corporation (NASDAQ:NVDA)

Darden Wealth Group Inc cut its stake in NVIDIA Corporation (NASDAQ:NVDA) by 2.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,334 shares of the computer hardware maker’s stock after selling 5,331 shares during the quarter. NVIDIA comprises about 16.2% of Darden Wealth Group Inc’s holdings, making the stock its biggest holding. Darden Wealth Group Inc’s holdings in NVIDIA were worth $20,954,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Copia Wealth Management bought a new position in shares of NVIDIA in the 4th quarter worth about $50,000. Barnes Dennig Private Wealth Management LLC bought a new stake in NVIDIA during the 1st quarter valued at about $51,000. Bruce G. Allen Investments LLC increased its stake in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after purchasing an additional 327 shares in the last quarter. LSV Asset Management bought a new stake in NVIDIA during the 4th quarter valued at about $54,000. Finally, Delos Wealth Advisors LLC increased its stake in 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 purchasing an additional 283 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 27,640 shares of the business’s stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares of the company’s stock, valued at approximately $526,501,340.56. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction dated Wednesday, August 13th. The stock was 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 trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have 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.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NVDA. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Thursday, May 29th. TD Cowen raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Phillip Securities raised shares of NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 14th. Wells Fargo & Company raised their price objective on shares of NVIDIA from $185.00 to $220.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Truist Financial raised their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the stock a “buy” rating in a 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.33.

NVIDIA Trading Up 0.2%

Shares of NVDA opened at $182.02 on Friday. 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 fifty-two week low of $86.62 and a fifty-two week high of $184.48. The stock has a market capitalization of $4.44 trillion, a PE ratio of 58.72, a P/E/G ratio of 1.60 and a beta of 2.14. The company’s fifty day moving average is $163.18 and its 200 day moving average is $135.00.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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 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 the consensus estimate of $43.09 billion. During the same quarter last year, the firm earned $0.61 EPS. The company’s revenue was up 69.2% on a year-over-year basis. Sell-side analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced 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. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s payout ratio is currently 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.