Birinyi Associates Inc. Decreases Position in NVIDIA Corporation (NASDAQ:NVDA)

Birinyi Associates Inc. trimmed its stake in NVIDIA Corporation (NASDAQ:NVDA) by 8.9% during the 1st quarter, Holdings Channel reports. The firm owned 109,475 shares of the computer hardware maker’s stock after selling 10,750 shares during the quarter. NVIDIA comprises approximately 3.8% of Birinyi Associates Inc.’s portfolio, making the stock its 8th biggest holding. Birinyi Associates Inc.’s holdings in NVIDIA were worth $11,865,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Carnegie Lake Advisors LLC grew its position in NVIDIA by 33.3% during the first quarter. Carnegie Lake Advisors LLC now owns 6,710 shares of the computer hardware maker’s stock valued at $727,000 after acquiring an additional 1,675 shares during the last quarter. Foundry Partners LLC grew its position in NVIDIA by 4.8% during the first quarter. Foundry Partners LLC now owns 8,950 shares of the computer hardware maker’s stock valued at $970,000 after acquiring an additional 410 shares during the last quarter. Csenge Advisory Group grew its position in NVIDIA by 1.1% during the first quarter. Csenge Advisory Group now owns 131,718 shares of the computer hardware maker’s stock valued at $13,368,000 after acquiring an additional 1,460 shares during the last quarter. St. Louis Trust Co bought a new position in NVIDIA during the first quarter valued at approximately $434,000. Finally, ARQ Wealth Advisors LLC grew its position in NVIDIA by 6.1% during the first quarter. ARQ Wealth Advisors LLC now owns 19,693 shares of the computer hardware maker’s stock valued at $2,135,000 after acquiring an additional 1,140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $181.38, for a total transaction of $13,603,500.00. Following the completion of the sale, the chief executive officer directly owned 72,998,225 shares in the company, valued at $13,240,418,050.50. The trade was a 0.10% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 20,000 shares of the business’s stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $3,561,200.00. Following the sale, the chief financial officer owned 153,060 shares of the company’s stock, valued at approximately $27,253,863.60. This represents a 11.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,837,440 shares of company stock valued at $889,404,782. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $180.45 on Friday. NVIDIA Corporation has a one year low of $86.62 and a one year high of $184.48. The stock has a 50-day moving average of $163.96 and a 200 day moving average of $135.36. The company has a market capitalization of $4.40 trillion, a price-to-earnings ratio of 58.21, a PEG ratio of 1.60 and a beta of 2.14. The company has a debt-to-equity ratio of 0.10, a quick ratio of 2.96 and a current ratio of 3.39.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate 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 in the previous year, the business posted $0.61 earnings per share. On average, sell-side analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid 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 payout ratio is currently 1.29%.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of recent research reports. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research report on Thursday, May 29th. TD Cowen increased their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. 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. Loop Capital increased their price target on shares of NVIDIA from $175.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. Finally, The Goldman Sachs Group began coverage on NVIDIA in a research note on Thursday, July 10th. They set a “buy” rating and a $185.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-two have issued a buy rating and four have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $186.33.

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.