Halbert Hargrove Global Advisors LLC Reduces Stock Position in NVIDIA Corporation (NASDAQ:NVDA)

Halbert Hargrove Global Advisors LLC lessened its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 36.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 761 shares of the computer hardware maker’s stock after selling 432 shares during the quarter. Halbert Hargrove Global Advisors LLC’s holdings in NVIDIA were worth $82,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. FMR LLC boosted its stake in NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC boosted its stake in NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after acquiring an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of NVIDIA by 0.9% during the fourth 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 buying an additional 3,721,331 shares during the period. Norges Bank acquired a new stake in shares of NVIDIA during the fourth quarter worth about $43,515,504,000. Finally, Northern Trust Corp boosted its stake in shares of NVIDIA by 15.8% during 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 buying an additional 36,266,817 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several recent research reports. Barclays increased their target price on shares of NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 17th. Bank of America increased their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, May 14th. Mizuho increased their target price on shares of NVIDIA from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday. Benchmark reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. One 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 company’s stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $176.19.

NVIDIA Trading Up 1.3%

NVIDIA stock opened at $159.28 on Friday. The stock has a market cap of $3.89 trillion, a PE ratio of 51.38, a P/E/G ratio of 1.39 and a beta of 2.13. The stock has a 50-day moving average price of $135.41 and a 200 day moving average price of $127.64. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $160.98. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10.

NVIDIA (NASDAQ:NVDA) last posted 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 for the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. 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 business posted $0.61 EPS. Equities research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other NVIDIA news, Director A Brooke Seawell sold 51,740 shares of NVIDIA stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $154.62, for a total value of $8,000,038.80. Following the completion of the sale, the director directly owned 1,576,709 shares of the company’s stock, valued at approximately $243,790,745.58. The trade was a 3.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $157.53, for a total transaction of $11,814,750.00. Following the completion of the sale, the chief executive officer directly owned 75,323,225 shares of the company’s stock, valued at $11,865,667,634.25. The trade was a 0.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,044,919 shares of company stock valued at $584,414,209. Company insiders own 4.17% of the company’s stock.

About NVIDIA

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.