Bessemer Group Inc. Sells 1,646,946 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Bessemer Group Inc. lowered its stake in NVIDIA Corporation (NASDAQ:NVDA) by 7.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 21,917,445 shares of the computer hardware maker’s stock after selling 1,646,946 shares during the period. NVIDIA accounts for about 4.3% of Bessemer Group Inc.’s holdings, making the stock its 3rd biggest holding. Bessemer Group Inc.’s holdings in NVIDIA were worth $2,375,413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Pacific Financial raised its holdings in shares of NVIDIA by 1.2% during the first quarter. First Pacific Financial now owns 15,911 shares of the computer hardware maker’s stock worth $1,724,000 after acquiring an additional 195 shares during the period. Aurora Private Wealth Inc. increased its holdings in NVIDIA by 680.4% during the 1st quarter. Aurora Private Wealth Inc. now owns 181,367 shares of the computer hardware maker’s stock worth $19,657,000 after purchasing an additional 158,127 shares in the last quarter. Kellett Wealth Advisors LLC raised its stake in shares of NVIDIA by 4.7% in the 1st quarter. Kellett Wealth Advisors LLC now owns 9,218 shares of the computer hardware maker’s stock valued at $999,000 after purchasing an additional 413 shares during the period. MOKAN Wealth Management Inc. raised its stake in shares of NVIDIA by 12.8% in the 1st quarter. MOKAN Wealth Management Inc. now owns 20,941 shares of the computer hardware maker’s stock valued at $2,270,000 after purchasing an additional 2,381 shares during the period. Finally, Independent Solutions Wealth Management LLC lifted its holdings in shares of NVIDIA by 0.5% in the first quarter. Independent Solutions Wealth Management LLC now owns 105,809 shares of the computer hardware maker’s stock valued at $11,468,000 after purchasing an additional 555 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NVDA. Jefferies Financial Group lifted their target price on NVIDIA from $185.00 to $200.00 in a research report on Wednesday. Rosenblatt Securities lifted their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, May 29th. UBS Group restated a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. Raymond James Financial raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 29th. Finally, Needham & Company LLC boosted their price target on shares of NVIDIA from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday. 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 company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $181.22.

NVIDIA Price Performance

NVIDIA stock opened at $171.37 on Thursday. The company has a market capitalization of $4.18 trillion, a price-to-earnings ratio of 55.28, a PEG ratio of 1.51 and a beta of 2.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $172.40. The stock’s 50 day moving average is $144.76 and its 200-day moving average is $129.39.

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

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction on 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 completion of the transaction, the executive vice president directly owned 4,018,547 shares of the company’s stock, valued at $613,391,014.08. The trade was a 4.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the company’s 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 directly owned 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,767,150 shares of company stock valued at $701,030,045 in the last three months. 4.17% of the stock is owned by 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.