HighMark Wealth Management LLC Trims Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

HighMark Wealth Management LLC trimmed its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 23.6% in the first quarter, Holdings Channel.com reports. The institutional investor owned 13,210 shares of the computer hardware maker’s stock after selling 4,078 shares during the quarter. NVIDIA comprises 0.8% of HighMark Wealth Management LLC’s investment portfolio, making the stock its 16th largest holding. HighMark Wealth Management LLC’s holdings in NVIDIA were worth $1,432,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. FMR LLC raised its holdings in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in NVIDIA by 0.9% during 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 period. Norges Bank purchased a new position in NVIDIA in the fourth quarter valued at about $43,515,504,000. Finally, Northern Trust Corp increased its holdings in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after buying an additional 36,266,817 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the firm’s stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $172.52, for a total transaction of $12,939,000.00. Following the transaction, the chief executive officer owned 74,348,225 shares in the company, valued at $12,826,555,777. This trade represents a 0.10% 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 A Brooke Seawell sold 48,792 shares of the firm’s stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $163.96, for a total transaction of $7,999,936.32. Following the transaction, the director owned 1,729,478 shares in the company, valued at $283,565,212.88. This represents a 2.74% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,964,800 shares of company stock valued at $734,906,003. Company insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $172.41 on Friday. 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 fifty-two week low of $86.62 and a fifty-two week high of $174.25. The firm has a 50-day simple moving average of $146.99 and a 200 day simple moving average of $129.90. The company has a market cap of $4.21 trillion, a PE ratio of 55.62, a P/E/G ratio of 1.52 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company’s revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 earnings per share. On average, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research analyst reports. Rosenblatt Securities increased their target price on shares of NVIDIA from $178.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Arete Research raised shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Loop Capital increased their target price on shares of NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a report on Wednesday, June 25th. Mizuho set a $192.00 target price on shares of NVIDIA and gave the company an “outperform” rating in a report on Tuesday. Finally, Truist Financial increased their price target on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $181.22.

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.