Conway Capital Management Inc. Sells 72,313 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Conway Capital Management Inc. cut its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 33.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 141,709 shares of the computer hardware maker’s stock after selling 72,313 shares during the period. NVIDIA comprises approximately 7.7% of Conway Capital Management Inc.’s investment portfolio, making the stock its 5th biggest holding. Conway Capital Management Inc.’s holdings in NVIDIA were worth $15,358,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rebalance LLC acquired a new stake in shares of NVIDIA in the first quarter valued at approximately $321,000. Crane Advisory LLC increased its holdings in NVIDIA by 67.3% during the first quarter. Crane Advisory LLC now owns 11,833 shares of the computer hardware maker’s stock worth $1,313,000 after buying an additional 4,758 shares during the last quarter. Keystone Wealth Services LLC increased its holdings in NVIDIA by 3.9% during the first quarter. Keystone Wealth Services LLC now owns 70,478 shares of the computer hardware maker’s stock worth $7,638,000 after buying an additional 2,653 shares during the last quarter. Access Financial Services Inc. increased its holdings in NVIDIA by 10.6% during the first quarter. Access Financial Services Inc. now owns 3,378 shares of the computer hardware maker’s stock worth $366,000 after buying an additional 325 shares during the last quarter. Finally, Stewardship Advisors LLC increased its holdings in NVIDIA by 17.5% during the first quarter. Stewardship Advisors LLC now owns 9,103 shares of the computer hardware maker’s stock worth $987,000 after buying an additional 1,353 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 3.0%

NVDA opened at $153.30 on Wednesday. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $158.71. The company has a 50-day simple moving average of $133.27 and a 200 day simple moving average of $127.24. 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 stock has a market capitalization of $3.74 trillion, a price-to-earnings ratio of 49.45, a P/E/G ratio of 1.40 and a beta of 2.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the prior year, the company earned $0.61 EPS. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. Analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA’s payout ratio is 1.29%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Loop Capital boosted their target price on shares of NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. Summit Insights upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a report on Thursday, May 29th. Finally, DA Davidson lifted their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $175.78.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was 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 of the company’s stock, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director directly owned 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,044,919 shares of company stock worth $584,414,209 in the last ninety days. 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.