NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by STAR Financial Bank

STAR Financial Bank lessened its stake in NVIDIA Corporation (NASDAQ:NVDA) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,520 shares of the computer hardware maker’s stock after selling 215 shares during the quarter. STAR Financial Bank’s holdings in NVIDIA were worth $815,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Astoria Portfolio Advisors LLC. boosted its holdings in shares of NVIDIA by 0.9% in the 1st 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 boosted its holdings in shares of 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 period. GSB Wealth Management LLC boosted its holdings in shares of 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 period. Variant Private Wealth LLC boosted its holdings in shares of 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 period. Finally, Financial Perspectives Inc boosted its holdings in shares of 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 period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVDA. Truist Financial lifted their price target on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Oppenheimer boosted their target price on shares of NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Needham & Company LLC boosted their target price on shares of NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Wednesday, July 16th. Raymond James Financial boosted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 29th. Finally, Mizuho boosted their target price on shares of NVIDIA from $192.00 to $205.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research 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 issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $186.33.

Insider Activity

In other news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the sale, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of NVIDIA stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the sale, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,837,440 shares of company stock valued at $889,404,782 over the last quarter. 4.17% of the stock is owned by insiders.

NVIDIA Stock Performance

NASDAQ NVDA opened at $180.45 on Friday. The company has a fifty day simple moving average of $163.96 and a 200 day simple moving average of $135.36. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $184.48. 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 company has a market cap of $4.40 trillion, a P/E ratio of 58.21, a PEG ratio of 1.60 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same period in the previous year, the business posted $0.61 EPS. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. Sell-side analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal 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 issued a dividend of $0.01 per share. 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 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.