Birinyi Associates Inc. Lowers Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Birinyi Associates Inc. decreased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 8.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 109,475 shares of the computer hardware maker’s stock after selling 10,750 shares during the period. NVIDIA accounts for about 3.8% of Birinyi Associates Inc.’s holdings, making the stock its 8th biggest position. Birinyi Associates Inc.’s holdings in NVIDIA were worth $11,865,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Copia Wealth Management bought a new stake in NVIDIA during the 4th quarter worth approximately $50,000. Barnes Dennig Private Wealth Management LLC bought a new position in NVIDIA in the 1st quarter valued at $51,000. Bruce G. Allen Investments LLC boosted its holdings 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 valued at $53,000 after purchasing an additional 327 shares during the period. LSV Asset Management purchased a new position in NVIDIA in the 4th quarter worth approximately $54,000. Finally, Delos Wealth Advisors LLC grew its stake in NVIDIA by 134.8% in the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock worth $66,000 after buying an additional 283 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 0.9%

NVIDIA stock opened at $180.45 on Friday. The stock has a fifty day simple moving average of $163.96 and a two-hundred day simple moving average of $135.36. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a market cap of $4.40 trillion, a price-to-earnings ratio of 58.21, a PEG ratio of 1.60 and a beta of 2.14. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business’s revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. Equities analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal 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 issued 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 dividend payout ratio (DPR) is presently 1.29%.

Wall Street Analyst Weigh In

A number of research firms have commented on NVDA. Piper Sandler set a $225.00 price target on shares of NVIDIA and gave the stock an “overweight” rating in a research note on Wednesday. Oppenheimer boosted their price target on shares of NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Arete Research raised shares of NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. Barclays upped their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Tuesday, June 17th. Finally, Morgan Stanley upped their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. 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 issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $186.33.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total value of $13,603,500.00. Following the transaction, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $178.06, for a total transaction of $3,561,200.00. Following the completion of the transaction, the chief financial officer directly owned 153,060 shares in the company, valued at approximately $27,253,863.60. The trade was a 11.56% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,837,440 shares of company stock worth $889,404,782. Insiders own 4.17% of the company’s stock.

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.