Gries Financial LLC Has $3.46 Million Stock Position in NVIDIA Corporation $NVDA

Gries Financial LLC decreased its stake in NVIDIA Corporation (NASDAQ:NVDA) by 38.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,885 shares of the computer hardware maker’s stock after selling 19,599 shares during the quarter. NVIDIA accounts for about 0.7% of Gries Financial LLC’s investment portfolio, making the stock its 27th largest holding. Gries Financial LLC’s holdings in NVIDIA were worth $3,456,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of NVDA. FMR LLC lifted its stake in NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of NVIDIA by 0.9% during 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 in 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 raised its stake 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 worth $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction dated Friday, August 15th. The stock was sold at an average price of $179.76, for a total value of $13,482,000.00. Following the completion of the sale, the chief executive officer owned 72,848,225 shares in the company, valued at approximately $13,095,196,926. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 27,640 shares of the company’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 $4,921,578.40. Following the completion of the sale, the chief financial officer owned 2,956,876 shares of the company’s stock, valued at $526,501,340.56. This represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,912,440 shares of company stock valued at $902,886,782 in the last quarter. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Trading Up 0.9%

NVDA stock opened at $182.01 on Tuesday. The company has a market cap of $4.44 trillion, a P/E ratio of 58.71, a PEG ratio of 1.59 and a beta of 2.14. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48. 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 business has a fifty day moving average of $164.75 and a 200-day moving average of $135.95.

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 analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 EPS. As a group, equities research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent research reports. Piper Sandler set a $225.00 price target on NVIDIA and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Wells Fargo & Company raised their price target on NVIDIA from $185.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, August 11th. Raymond James Financial raised their price target on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research note on Thursday, May 29th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $240.00 price target (up from $200.00) on shares of NVIDIA in a research note on Monday. Finally, Oppenheimer raised their price target on NVIDIA from $175.00 to $200.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $187.61.

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.