Financial Freedom LLC Reduces Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Financial Freedom LLC lowered its stake in NVIDIA Corporation (NASDAQ:NVDA) by 8.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,326 shares of the computer hardware maker’s stock after selling 702 shares during the quarter. Financial Freedom LLC’s holdings in NVIDIA were worth $794,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Variant Private Wealth LLC boosted its stake in shares of NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock worth $2,038,000 after acquiring an additional 3,206 shares during the last quarter. Hickory Point Bank & Trust purchased a new position in shares of NVIDIA during the 4th quarter worth $2,272,000. BTC Capital Management Inc. boosted its stake 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 worth $35,785,000 after acquiring an additional 7,476 shares during the last quarter. Capital Performance Advisors LLP boosted its stake in shares of 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 acquiring an additional 9,944 shares during the last quarter. Finally, Waddell & Associates LLC boosted its stake in shares of 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 acquiring an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the topic of several analyst reports. Bank of America lifted their price target on shares of NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Thursday, April 3rd. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Mizuho raised their price objective on shares of NVIDIA from $170.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Rosenblatt Securities raised their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a research 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 given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $176.19.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction 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 sale, the director owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director owned 9,214,697 shares in the company, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,044,919 shares of company stock worth $584,414,209. 4.17% of the stock is owned by company insiders.

NVIDIA Price Performance

Shares of NVDA opened at $159.28 on Friday. The company has a 50 day moving average price of $135.41 and a 200-day moving average price of $127.64. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $160.98. The stock has a market capitalization of $3.89 trillion, a PE ratio of 51.38, a PEG ratio of 1.39 and a beta of 2.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same period in the previous year, the company earned $0.61 EPS. The company’s revenue was up 69.2% on a year-over-year basis. Equities analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio 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.