NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Jacksonville Wealth Management LLC

Jacksonville Wealth Management LLC cut its position in NVIDIA Corporation (NASDAQ:NVDA) by 4.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,172 shares of the computer hardware maker’s stock after selling 2,966 shares during the quarter. NVIDIA accounts for 7.5% of Jacksonville Wealth Management LLC’s holdings, making the stock its 5th largest holding. Jacksonville Wealth Management LLC’s holdings in NVIDIA were worth $7,605,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wealth Group Ltd. grew its stake in NVIDIA by 1.8% during the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock worth $766,000 after purchasing an additional 100 shares in the last quarter. Tallon Kerry Patrick acquired a new position in NVIDIA during the 4th quarter worth $972,000. Capital & Planning LLC grew its stake in NVIDIA by 16.9% during the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker’s stock worth $1,021,000 after purchasing an additional 1,099 shares in the last quarter. Ironwood Wealth Management LLC. grew its stake in NVIDIA by 1.6% during the 4th quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker’s stock worth $871,000 after purchasing an additional 104 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after purchasing an additional 35,815 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on NVDA. Arete Research raised NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Susquehanna reaffirmed a “positive” rating and set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Piper Sandler reaffirmed an “overweight” rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Finally, Hsbc Global Res cut NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $175.78.

Insider Transactions at NVIDIA

In other news, Director Robert K. Burgess sold 50,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the completion of the transaction, the director now directly owns 201,044 shares of the company’s stock, valued at approximately $27,104,752.08. This represents a 19.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director now directly 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. In the last three months, insiders sold 3,792,267 shares of company stock valued at $544,823,117. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Stock Up 1.8%

NVDA opened at $157.75 on Friday. The business has a 50 day moving average price of $130.96 and a two-hundred day moving average price of $127.05. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company has a market cap of $3.85 trillion, a PE ratio of 50.89, a P/E/G ratio of 1.37 and a beta of 2.12. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $158.71.

NVIDIA (NASDAQ:NVDA) last posted 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 for the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm’s revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.61 earnings per share. As a group, research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is 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.