Aspen Investment Management Inc Sells 2,838 Shares of NVIDIA Corporation $NVDA

Aspen Investment Management Inc cut its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 37.1% during the second quarter, Holdings Channel reports. The fund owned 4,819 shares of the computer hardware maker’s stock after selling 2,838 shares during the period. Aspen Investment Management Inc’s holdings in NVIDIA were worth $761,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NVDA. Geode Capital Management LLC increased its stake in shares of NVIDIA by 1.5% in the second quarter. Geode Capital Management LLC now owns 579,213,497 shares of the computer hardware maker’s stock valued at $91,150,170,000 after buying an additional 8,521,936 shares in the last quarter. Kingstone Capital Partners Texas LLC grew its holdings in NVIDIA by 267,959.7% during the 2nd quarter. Kingstone Capital Partners Texas LLC now owns 382,373,765 shares of the computer hardware maker’s stock worth $64,976,521,000 after acquiring an additional 382,231,120 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in NVIDIA by 2.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 206,794,926 shares of the computer hardware maker’s stock worth $22,412,434,000 after acquiring an additional 5,896,735 shares during the last quarter. Goldman Sachs Group Inc. increased its position in NVIDIA by 123.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 187,995,213 shares of the computer hardware maker’s stock valued at $20,374,921,000 after acquiring an additional 103,889,872 shares in the last quarter. Finally, Nuveen LLC bought a new position in shares of NVIDIA in the first quarter worth about $15,089,414,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NVDA. Citic Securities raised their price target on shares of NVIDIA from $237.00 to $242.00 and gave the company a “buy” rating in a report on Thursday, November 20th. Citigroup increased their price objective on NVIDIA from $220.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, November 20th. DA Davidson restated a “buy” rating and set a $250.00 target price on shares of NVIDIA in a research report on Thursday, November 20th. Sanford C. Bernstein reiterated a “buy” rating on shares of NVIDIA in a report on Wednesday, November 26th. Finally, Stifel Nicolaus lifted their price objective on NVIDIA from $212.00 to $250.00 and gave the stock a “buy” rating in a research report on Tuesday, November 18th. Four analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $258.65.

NVIDIA Trading Up 1.5%

NASDAQ NVDA opened at $185.16 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71. The firm has a market cap of $4.50 trillion, a P/E ratio of 45.95, a P/E/G ratio of 0.90 and a beta of 2.29. The stock’s 50-day moving average is $187.20 and its 200-day moving average is $172.73. NVIDIA Corporation has a one year low of $86.62 and a one year high of $212.19.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.07. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The company had revenue of $57.01 billion during the quarter, compared to the consensus estimate of $54.66 billion. During the same quarter in the prior year, the firm earned $0.81 earnings per share. The firm’s revenue was up 62.5% compared to the same quarter last year. Sell-side analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date is Thursday, December 4th. NVIDIA’s payout ratio is presently 0.99%.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 27,640 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $208.33, for a total transaction of $5,758,241.20. Following the completion of the transaction, the chief financial officer directly owned 2,828,122 shares in the company, valued at $589,182,656.26. This represents a 0.97% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director John Dabiri sold 626 shares of the firm’s stock in a transaction on Monday, November 24th. The shares were sold at an average price of $179.42, for a total transaction of $112,316.92. Following the completion of the transaction, the director directly owned 17,792 shares of the company’s stock, valued at $3,192,240.64. This represents a 3.40% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 2,874,931 shares of company stock valued at $518,877,705. 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.