NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,896 shares of the computer hardware maker’s stock after selling 12,125 shares during the period. NVIDIA comprises about 3.2% of Castle Rock Wealth Management LLC’s investment portfolio, making the stock its 4th largest holding. Castle Rock Wealth Management LLC’s holdings in NVIDIA were worth $11,878,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hickory Point Bank & Trust bought a new position in shares of NVIDIA during the fourth quarter worth approximately $2,272,000. BTC Capital Management Inc. boosted its holdings in shares of NVIDIA by 2.3% during the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock valued at $35,785,000 after acquiring an additional 7,476 shares in the last quarter. Capital Performance Advisors LLP raised its position in NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after purchasing an additional 9,944 shares during the last quarter. Waddell & Associates LLC raised its position in NVIDIA by 1.2% during the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock worth $3,240,000 after purchasing an additional 297 shares during the last quarter. Finally, Strategy Asset Managers LLC raised its position in NVIDIA by 0.8% during the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock worth $7,024,000 after purchasing an additional 405 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NVDA. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $170.00 target price (up from $160.00) on shares of NVIDIA in a research report on Thursday, May 29th. Arete Research upgraded NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. KeyCorp set a $190.00 target price on NVIDIA in a research note on Wednesday, March 19th. Finally, TD Cowen boosted their target price on NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-five have issued a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $172.24.

NVIDIA Trading Down 0.8%

NASDAQ NVDA opened at $142.83 on Thursday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $153.13. The stock has a market capitalization of $3.49 trillion, a PE ratio of 56.21, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. The firm has a 50 day moving average of $120.91 and a two-hundred day moving average of $126.34.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (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 analyst estimates of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.61 EPS. As a group, research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.29%.

Insider Activity

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the transaction, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director now owns 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,560,845 shares of company stock worth $360,351,849 in the last 90 days. 4.17% of the stock is currently owned by corporate insiders.

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.