Penn Davis Mcfarland Inc. Cuts Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Penn Davis Mcfarland Inc. lowered its stake in NVIDIA Corporation (NASDAQ:NVDA) by 3.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 578,328 shares of the computer hardware maker’s stock after selling 19,510 shares during the quarter. NVIDIA comprises about 7.4% of Penn Davis Mcfarland Inc.’s portfolio, making the stock its 2nd biggest holding. Penn Davis Mcfarland Inc.’s holdings in NVIDIA were worth $62,679,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. FMR LLC boosted its position in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC boosted its holdings in NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after buying an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in NVIDIA by 0.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after buying an additional 3,721,331 shares during the last quarter. Norges Bank bought a new position in shares of NVIDIA in the fourth quarter valued at $43,515,504,000. Finally, Northern Trust Corp lifted its position in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. The trade was a 3.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total value of $11,440,500.00. Following the completion of the sale, the chief executive officer directly owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,767,150 shares of company stock worth $701,030,045. 4.17% of the stock is owned by company insiders.

NVIDIA Trading Up 4.0%

Shares of NASDAQ:NVDA opened at $170.70 on Wednesday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $4.17 trillion, a PE ratio of 55.06, a P/E/G ratio of 1.45 and a beta of 2.13. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $172.40. The firm has a fifty day moving average price of $143.67 and a 200 day moving average price of $129.10.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter last year, the company posted $0.61 EPS. The business’s revenue was up 69.2% compared to the same quarter last year. Analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NVDA. Hsbc Global Res lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Oppenheimer lifted their price target on NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday. Bank of America boosted their price objective on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Finally, Raymond James Financial lifted their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $177.92.

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.