Resurgent Financial Advisors LLC Decreases Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Resurgent Financial Advisors LLC decreased its position in NVIDIA Corporation (NASDAQ:NVDA) by 4.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,212 shares of the computer hardware maker’s stock after selling 1,500 shares during the quarter. NVIDIA accounts for 2.1% of Resurgent Financial Advisors LLC’s portfolio, making the stock its 9th biggest holding. Resurgent Financial Advisors LLC’s holdings in NVIDIA were worth $3,491,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Astoria Portfolio Advisors LLC. raised its position 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 worth $9,610,000 after acquiring an additional 864 shares in the last quarter. Centerpoint Advisory Group grew its stake in NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker’s stock valued at $4,270,000 after purchasing an additional 943 shares during the last quarter. GSB Wealth Management LLC grew its stake in NVIDIA by 3.3% during 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 purchasing an additional 1,043 shares during the last quarter. Variant Private Wealth LLC grew its stake in NVIDIA by 20.6% during 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 purchasing an additional 3,206 shares during the last quarter. Finally, Financial Perspectives Inc boosted 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 worth $4,981,000 after buying an additional 1,265 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NVDA. BNP Paribas raised NVIDIA to a “hold” rating in a report on Friday, August 1st. Rosenblatt Securities increased their price objective on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Mizuho increased their price objective on NVIDIA from $192.00 to $205.00 and gave the stock an “outperform” rating in a research report on Thursday. Arete Research upgraded NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. Finally, DA Davidson lifted their target price on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $186.33.

NVIDIA Price Performance

NASDAQ NVDA opened at $180.45 on Friday. The firm has a market capitalization of $4.40 trillion, a PE ratio of 58.21, a P/E/G 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. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The company’s 50 day simple moving average is $163.96 and its 200 day simple moving average is $135.36.

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 analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company’s revenue was up 69.2% compared to the same quarter last year. During the same period last year, the company posted $0.61 earnings per share. As a group, equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Insider Activity at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer directly owned 72,998,225 shares of the company’s stock, valued at approximately $13,240,418,050.50. The trade was a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 20,000 shares of NVIDIA stock in a transaction on Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $3,561,200.00. Following the completion of the sale, the chief financial officer owned 153,060 shares in the company, valued at $27,253,863.60. The trade was a 11.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,837,440 shares of company stock valued at $889,404,782. Company insiders own 4.17% of the company’s stock.

NVIDIA 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.