NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 29.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 42,046 shares of the computer hardware maker’s stock after selling 17,752 shares during the quarter. NVIDIA comprises about 1.0% of Legacy Capital Wealth Partners LLC’s investment portfolio, making the stock its 16th largest holding. Legacy Capital Wealth Partners LLC’s holdings in NVIDIA were worth $4,557,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NVDA. Norges Bank acquired a new position in shares of NVIDIA in the fourth quarter worth $43,515,504,000. GAMMA Investing LLC grew its stake in shares of NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after acquiring an additional 48,439,859 shares in the last quarter. Northern Trust Corp grew its stake in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of NVIDIA by 204.6% in the first quarter. Assenagon Asset Management S.A. now owns 35,652,571 shares of the computer hardware maker’s stock worth $3,864,026,000 after acquiring an additional 23,948,733 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of NVIDIA in the fourth quarter worth $2,987,733,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total value of $13,603,500.00. Following the sale, the chief executive officer directly owned 72,998,225 shares in the company, valued at $13,240,418,050.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 27,640 shares of the stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction of $4,921,578.40. Following the completion of the sale, the chief financial officer owned 2,956,876 shares in the company, valued at $526,501,340.56. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,837,440 shares of company stock worth $889,404,782 over the last quarter. Company insiders own 4.17% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several recent analyst reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. Needham & Company LLC lifted their price objective on shares of NVIDIA from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Piper Sandler set a $225.00 price objective on shares of NVIDIA and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Wedbush reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. One 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $185.97.

NVIDIA Trading Down 0.8%

Shares of NVDA opened at $181.62 on Thursday. 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 firm’s 50-day moving average is $162.34 and its two-hundred day moving average is $134.56. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48. The firm has a market capitalization of $4.43 trillion, a P/E ratio of 58.59, a PEG ratio of 1.61 and a beta of 2.14.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company 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%. The company’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.61 earnings per share. On average, research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

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.