Morningstar Investment Services LLC Sells 378 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Morningstar Investment Services LLC reduced its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 11.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,888 shares of the computer hardware maker’s stock after selling 378 shares during the quarter. Morningstar Investment Services LLC’s holdings in NVIDIA were worth $313,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Astoria Portfolio Advisors LLC. raised its stake in shares of NVIDIA by 0.9% in 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 buying an additional 864 shares during the period. Centerpoint Advisory Group raised its stake in shares of NVIDIA by 2.5% in the first 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 period. GSB Wealth Management LLC raised its stake in shares of NVIDIA by 3.3% in the first 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 period. Variant Private Wealth LLC raised its stake in shares of NVIDIA by 20.6% in the first 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 period. Finally, Financial Perspectives Inc raised its stake in shares of NVIDIA by 2.8% in the first 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 period. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several recent research reports. The Goldman Sachs Group initiated coverage on NVIDIA in a research report on Thursday, July 10th. They issued a “buy” rating and a $185.00 price target for the company. Jefferies Financial Group upped their price target on NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. Loop Capital upped their price target on NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Truist Financial upped their price target on NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research 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 assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $186.33.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 20,000 shares of the company’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 value of $3,561,200.00. Following the sale, the chief financial officer owned 153,060 shares in the company, valued at $27,253,863.60. This represents a 11.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 72,998,225 shares in the company, valued at $13,240,418,050.50. The trade was a 0.10% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,837,440 shares of company stock worth $889,404,782 in the last 90 days. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Down 0.9%

Shares of NASDAQ:NVDA opened at $180.45 on Friday. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $184.48. The firm has a market capitalization of $4.40 trillion, a P/E ratio of 58.21, a P/E/G ratio of 1.60 and a beta of 2.14. The stock has a 50 day moving average price of $163.96 and a 200-day moving average price of $135.36. 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 (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 the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business’s quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 EPS. As a group, equities research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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