Strategic Equity Management Trims Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Strategic Equity Management trimmed its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 15.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,889 shares of the computer hardware maker’s stock after selling 350 shares during the period. Strategic Equity Management’s holdings in NVIDIA were worth $205,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of NVDA. FMR LLC grew its holdings in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after buying an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC raised its position in shares of NVIDIA by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of NVIDIA by 0.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after buying an additional 3,721,331 shares during the period. Norges Bank purchased a new position in shares of NVIDIA in the 4th quarter worth $43,515,504,000. Finally, Northern Trust Corp raised 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 purchasing an additional 36,266,817 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Buying and Selling

In other news, Director Robert K. Burgess sold 50,000 shares of the stock in a transaction that occurred on Friday, May 30th. The shares were sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the sale, the director now directly owns 201,044 shares of the company’s stock, valued at $27,104,752.08. This represents a 19.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director A Brooke Seawell sold 54,467 shares of the firm’s stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $146.88, for a total transaction of $8,000,112.96. Following the completion of the transaction, the director now directly owns 1,834,570 shares in the company, valued at approximately $269,461,641.60. The trade was a 2.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,393,863 shares of company stock valued at $483,709,832 over the last quarter. Corporate insiders own 4.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NVDA. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. Benchmark restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Arete Research raised NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Finally, Mizuho boosted their target price on NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have issued a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $173.69.

NVIDIA Stock Up 2.6%

NVIDIA stock opened at $147.90 on Wednesday. The firm has a market cap of $3.61 trillion, a price-to-earnings ratio of 47.71, a P/E/G ratio of 1.27 and a beta of 2.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $153.13. The firm has a fifty day moving average price of $127.76 and a two-hundred day moving average price of $126.59.

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 analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS. As a group, 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 will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) 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.