NVIDIA Corporation (NASDAQ:NVDA) Position Reduced by Transce3nd LLC

Transce3nd LLC reduced its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 24.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,055 shares of the computer hardware maker’s stock after selling 1,629 shares during the quarter. Transce3nd LLC’s holdings in NVIDIA were worth $544,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Astoria Portfolio Advisors LLC. grew its holdings in NVIDIA by 0.9% during the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker’s stock valued at $9,610,000 after purchasing an additional 864 shares during the last quarter. Centerpoint Advisory Group grew its stake in NVIDIA by 2.5% in the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker’s stock valued at $4,270,000 after buying an additional 943 shares during the last quarter. GSB Wealth Management LLC grew its stake in NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock valued at $3,534,000 after buying an additional 1,043 shares during the last quarter. Variant Private Wealth LLC grew its stake in NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock valued at $2,038,000 after buying an additional 3,206 shares during the last quarter. Finally, Financial Perspectives Inc grew its stake in NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock valued at $4,981,000 after buying an additional 1,265 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

NVIDIA stock opened at $182.02 on Friday. The company 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 has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48. The stock has a 50-day moving average price of $163.18 and a two-hundred day moving average price of $135.00.

NVIDIA (NASDAQ:NVDA) last issued its 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 business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. Analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio is presently 1.29%.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $181.38, for a total value of $13,603,500.00. Following the completion of the transaction, the chief executive officer owned 72,998,225 shares in the company, valued at $13,240,418,050.50. This represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 27,640 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer directly owned 2,956,876 shares of the company’s stock, valued at $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 a total of 5,837,440 shares of company stock valued at $889,404,782 over the last ninety days. 4.17% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NVDA shares. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. Mizuho boosted their price target on shares of NVIDIA from $192.00 to $205.00 and gave the stock an “outperform” rating in a research note on Thursday. TD Cowen increased their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Benchmark reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Barclays lifted their price target on NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a report on Tuesday, June 17th. One equities 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $186.33.

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.