NVIDIA Corporation $NVDA Position Reduced by Lewis Asset Management LLC

Lewis Asset Management LLC decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 1.0% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 105,177 shares of the computer hardware maker’s stock after selling 1,086 shares during the period. NVIDIA makes up about 9.4% of Lewis Asset Management LLC’s investment portfolio, making the stock its largest position. Lewis Asset Management LLC’s holdings in NVIDIA were worth $11,399,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC grew its position in NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its position in NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after acquiring an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after acquiring an additional 3,721,331 shares in the last quarter. Norges Bank acquired a new stake in NVIDIA in the fourth quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp grew its position in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $182.01 on Tuesday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. The firm has a 50-day moving average of $164.75 and a two-hundred day moving average of $135.95. The firm has a market capitalization of $4.44 trillion, a PE ratio of 58.71, a P/E/G ratio of 1.59 and a beta of 2.14. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) last announced its earnings results 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the business earned $0.61 earnings per share. The business’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s payout ratio is presently 1.29%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. DA Davidson increased their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a research report on Thursday, May 29th. Benchmark reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Truist Financial increased their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Finally, Barclays raised their price target on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 17th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average price target of $187.61.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director directly owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the sale, the chief executive officer directly owned 75,548,225 shares of the company’s stock, valued at $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,912,440 shares of company stock valued at $902,886,782 over the last ninety days. Corporate 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.