Wealth Alliance LLC Sells 6,980 Shares of NVIDIA Corporation $NVDA

Wealth Alliance LLC lessened its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 9.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 65,598 shares of the computer hardware maker’s stock after selling 6,980 shares during the period. NVIDIA makes up about 0.9% of Wealth Alliance LLC’s holdings, making the stock its 17th biggest position. Wealth Alliance LLC’s holdings in NVIDIA were worth $7,110,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Copia Wealth Management purchased a new stake in shares of NVIDIA in the 4th quarter valued at $50,000. Barnes Dennig Private Wealth Management LLC purchased a new stake in shares of NVIDIA in the 1st quarter valued at $51,000. Bruce G. Allen Investments LLC boosted its stake in shares of NVIDIA by 198.2% in the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock valued at $53,000 after purchasing an additional 327 shares in the last quarter. LSV Asset Management purchased a new stake in shares of NVIDIA in the 4th quarter valued at $54,000. Finally, Delos Wealth Advisors LLC boosted its stake in shares of NVIDIA by 134.8% in the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock valued at $66,000 after purchasing an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 0.9%

NASDAQ:NVDA opened at $180.45 on Monday. The firm has a market cap of $4.40 trillion, a P/E ratio of 58.21, a P/E/G ratio of 1.59 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 Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $184.48. The firm has a 50-day simple moving average of $163.96 and a two-hundred day simple moving average of $135.52.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 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 during the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the firm earned $0.61 earnings per share. The business’s revenue was up 69.2% compared to the same quarter last year. Analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal 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. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s payout ratio is currently 1.29%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on NVDA shares. Phillip Securities raised shares of NVIDIA from a “moderate buy” rating to a “strong-buy” rating in a research note on Monday, July 14th. Benchmark reissued a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, May 29th. BNP Paribas raised shares of NVIDIA to a “hold” rating in a research report on Friday, August 1st. Needham & Company LLC increased their price target on shares of NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Finally, Raymond James Financial increased their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have given a buy rating and four have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $186.33.

Insider Buying and Selling

In other news, CFO Colette Kress sold 27,640 shares of NVIDIA stock in a transaction that occurred on Monday, August 4th. The shares were sold at an average price of $178.06, for a total value of $4,921,578.40. Following the completion of the sale, the chief financial officer directly owned 2,956,876 shares in the company, valued at $526,501,340.56. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on 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 owned 72,998,225 shares of the company’s stock, valued at $13,240,418,050.50. This represents a 0.10% 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 valued at $889,404,782 over the last quarter. Company insiders own 4.17% of the company’s stock.

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.