NVIDIA Corporation (NASDAQ:NVDA) Position Reduced by Cable Hill Partners LLC

Cable Hill Partners LLC cut its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 8.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,328 shares of the computer hardware maker’s stock after selling 3,138 shares during the quarter. NVIDIA accounts for 0.4% of Cable Hill Partners LLC’s portfolio, making the stock its 17th largest position. Cable Hill Partners LLC’s holdings in NVIDIA were worth $3,957,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of NVDA. FMR LLC grew its holdings 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 acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC grew its stake in NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in NVIDIA by 0.9% in the 4th 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 purchasing an additional 3,721,331 shares during the last quarter. Norges Bank purchased a new stake in shares of NVIDIA during the 4th quarter worth about $43,515,504,000. Finally, Northern Trust Corp lifted its holdings 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 buying an additional 36,266,817 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the transaction, the executive vice president directly owned 4,018,547 shares in the company, valued at $613,391,014.08. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred 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 in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,687,440 shares of company stock valued at $862,095,782 over the last ninety days. Company insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA stock opened at $183.16 on Wednesday. NVIDIA Corporation has a 1 year low of $86.62 and a 1 year high of $184.48. The firm’s 50 day moving average is $161.55 and its 200-day moving average is $134.24. The firm has a market capitalization of $4.47 trillion, a price-to-earnings ratio of 59.08, a PEG ratio of 1.60 and a beta of 2.14. 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 (NASDAQ:NVDA) last announced 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). 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 analyst estimates of $43.09 billion. During the same quarter in the previous year, the company posted $0.61 earnings per share. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. Sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio is presently 1.29%.

Analyst Upgrades and Downgrades

NVDA has been the topic of several analyst reports. Wedbush restated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. Phillip Securities upgraded shares of NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a report on Monday, July 14th. Jefferies Financial Group raised their price target on shares of NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. UBS Group restated a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. Finally, Oppenheimer raised their price target on shares of NVIDIA from $175.00 to $200.00 and gave the company an “outperform” rating in a report on Tuesday, July 15th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $183.75.

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.