Primoris Wealth Advisors LLC Cuts Stake in NVIDIA Corporation (NASDAQ:NVDA)

Primoris Wealth Advisors LLC lowered its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 27.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,773 shares of the computer hardware maker’s stock after selling 8,985 shares during the period. NVIDIA comprises 2.0% of Primoris Wealth Advisors LLC’s investment portfolio, making the stock its 16th biggest position. Primoris Wealth Advisors LLC’s holdings in NVIDIA were worth $2,577,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the fourth quarter worth about $28,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA during the fourth quarter worth about $38,000. Copia Wealth Management purchased a new stake in shares of NVIDIA during the fourth quarter worth about $50,000. LSV Asset Management purchased a new stake in shares of NVIDIA during the fourth quarter worth about $54,000. Finally, Bruce G. Allen Investments LLC increased its stake in shares of NVIDIA by 198.2% during 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 in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 27,650 shares of the stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $170.89, for a total value of $4,725,108.50. Following the sale, the chief financial officer directly owned 2,984,516 shares of the company’s stock, valued at approximately $510,023,939.24. This represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jen Hsun Huang sold 75,000 shares of the 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 completion of the sale, the chief executive officer directly owned 74,348,225 shares in the company, valued at approximately $12,826,555,777. This represents a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,964,800 shares of company stock worth $734,906,003 in the last ninety days. 4.17% of the stock is owned by corporate insiders.

NVIDIA Price Performance

NVIDIA stock opened at $172.41 on Friday. The firm has a market cap of $4.21 trillion, a PE ratio of 55.62, a price-to-earnings-growth ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $174.25. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $146.99 and its two-hundred day moving average is $129.90.

NVIDIA (NASDAQ:NVDA) last released 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 business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.61 earnings per share. On average, research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced 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 of this dividend was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Analyst Ratings Changes

NVDA has been the topic of a number of recent research reports. HSBC lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Thursday, April 3rd. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. The Goldman Sachs Group initiated coverage on shares of NVIDIA in a research report on Thursday, July 10th. They set a “buy” rating and a $185.00 price target on the stock. Hsbc Global Res lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Finally, Piper Sandler restated an “overweight” rating and set a $180.00 price target (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-three have assigned a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.22.

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.