Wealth Alliance LLC Sells 6,980 Shares of NVIDIA Corporation $NVDA

Wealth Alliance LLC cut its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 9.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,598 shares of the computer hardware maker’s stock after selling 6,980 shares during the quarter. NVIDIA makes up 0.9% of Wealth Alliance LLC’s portfolio, making the stock its 17th largest position. Wealth Alliance LLC’s holdings in NVIDIA were worth $7,110,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bingham Private Wealth LLC increased its stake in shares of NVIDIA by 13.8% during the 1st quarter. Bingham Private Wealth LLC now owns 17,938 shares of the computer hardware maker’s stock worth $1,944,000 after purchasing an additional 2,171 shares during the last quarter. Meridian Wealth Advisors LLC grew its stake in NVIDIA by 52.0% in the 1st quarter. Meridian Wealth Advisors LLC now owns 88,076 shares of the computer hardware maker’s stock valued at $9,546,000 after buying an additional 30,150 shares during the last quarter. Lowery Thomas LLC grew its stake in NVIDIA by 4.9% in the 1st quarter. Lowery Thomas LLC now owns 6,033 shares of the computer hardware maker’s stock valued at $654,000 after buying an additional 280 shares during the last quarter. Sargent Investment Group LLC grew its stake in NVIDIA by 14.8% in the 1st quarter. Sargent Investment Group LLC now owns 67,123 shares of the computer hardware maker’s stock valued at $7,275,000 after buying an additional 8,638 shares during the last quarter. Finally, Lindbrook Capital LLC grew its stake in NVIDIA by 4.3% in the 1st quarter. Lindbrook Capital LLC now owns 252,771 shares of the computer hardware maker’s stock valued at $27,395,000 after buying an additional 10,496 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

Shares of NVDA stock opened at $180.45 on Monday. The firm has a market cap of $4.40 trillion, a price-to-earnings ratio of 58.21, a P/E/G ratio of 1.59 and a beta of 2.14. 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 Corporation has a 52 week low of $86.62 and a 52 week high of $184.48. The firm’s 50-day simple moving average is $163.96 and its two-hundred day simple moving average is $135.52.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS 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 the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business’s revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.61 EPS. As a group, equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a $0.01 dividend. 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 payout ratio is 1.29%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on NVDA shares. Wells Fargo & Company upped their price target on shares of NVIDIA from $185.00 to $220.00 and gave the company an “overweight” rating in a research note on Monday, August 11th. Morgan Stanley boosted their price objective on shares of NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a report on Wednesday, July 30th. Jefferies Financial Group boosted their price objective on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. UBS Group reissued a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. Finally, Raymond James Financial boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have assigned a buy rating and four have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $186.33.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 27,640 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $4,921,578.40. Following the sale, the chief financial officer owned 2,956,876 shares of the company’s stock, valued at $526,501,340.56. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the business’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 transaction of $13,603,500.00. Following the completion of the sale, the chief executive officer directly owned 72,998,225 shares in the company, valued at approximately $13,240,418,050.50. This trade represents a 0.10% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 5,837,440 shares of company stock worth $889,404,782. 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.