Greenbush Financial Group LLC Trims Position in NVIDIA Corporation (NASDAQ:NVDA)

Greenbush Financial Group LLC cut its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 2.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 22,960 shares of the computer hardware maker’s stock after selling 635 shares during the quarter. NVIDIA comprises 1.2% of Greenbush Financial Group LLC’s portfolio, making the stock its 22nd largest holding. Greenbush Financial Group LLC’s holdings in NVIDIA were worth $2,488,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in NVDA. Tacita Capital Inc purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $38,000. Copia Wealth Management purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $50,000. Bruce G. Allen Investments LLC grew its stake in NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after purchasing an additional 327 shares during the period. Finally, LSV Asset Management purchased a new stake in NVIDIA in the fourth quarter worth $54,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Hsbc Global Res cut NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Arete Research raised NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. Susquehanna reaffirmed a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. TD Cowen upped their price target on NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Finally, Mizuho upped their price target on NVIDIA from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-four have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $176.19.

NVIDIA Stock Up 1.3%

NASDAQ NVDA opened at $159.28 on Friday. The stock’s 50-day moving average price is $135.41 and its 200-day moving average price is $127.64. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $160.98. The company has a market capitalization of $3.89 trillion, a P/E ratio of 51.38, a price-to-earnings-growth ratio of 1.39 and a beta of 2.13.

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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period last year, the business earned $0.61 EPS. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. On average, equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is currently 1.29%.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the sale, the chief executive officer owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $152.64, for a total value of $25,673,284.80. Following the sale, the executive vice president owned 4,018,547 shares of the company’s stock, valued at $613,391,014.08. This represents a 4.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,044,919 shares of company stock worth $584,414,209 over the last ninety days. 4.17% of the stock is owned by corporate insiders.

NVIDIA Company 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.