Hager Investment Management Services LLC Trims Stock Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Hager Investment Management Services LLC reduced its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 11.0% during the first quarter, Holdings Channel reports. The fund owned 57,253 shares of the computer hardware maker’s stock after selling 7,045 shares during the period. NVIDIA comprises about 4.3% of Hager Investment Management Services LLC’s investment portfolio, making the stock its 3rd biggest position. Hager Investment Management Services LLC’s holdings in NVIDIA were worth $6,205,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Astoria Portfolio Advisors LLC. lifted its stake in NVIDIA by 0.9% in the first quarter. Astoria Portfolio Advisors LLC. now owns 93,568 shares of the computer hardware maker’s stock worth $9,610,000 after acquiring an additional 864 shares during the period. Centerpoint Advisory Group raised its holdings in NVIDIA by 2.5% in the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker’s stock worth $4,270,000 after purchasing an additional 943 shares in the last quarter. GSB Wealth Management LLC raised its holdings in NVIDIA by 3.3% in the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock worth $3,534,000 after purchasing an additional 1,043 shares in the last quarter. Variant Private Wealth LLC raised its holdings in NVIDIA by 20.6% in the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock worth $2,038,000 after purchasing an additional 3,206 shares in the last quarter. Finally, Financial Perspectives Inc raised its holdings in NVIDIA by 2.8% in the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock worth $4,981,000 after purchasing an additional 1,265 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Trading Up 1.1%

Shares of NASDAQ:NVDA opened at $182.67 on Monday. The stock has a 50 day moving average of $159.82 and a 200 day moving average of $133.62. The company has a market cap of $4.46 trillion, a PE ratio of 58.93, a price-to-earnings-growth ratio of 1.61 and a beta of 2.14. 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 Corporation has a 12-month low of $86.62 and a 12-month high of $183.88.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter last year, the firm posted $0.61 earnings per share. The company’s revenue was up 69.2% compared to the same quarter last year. As a group, equities research analysts expect that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio is presently 1.29%.

Analyst Ratings Changes

Several research analysts have commented on NVDA shares. Citigroup upped their price objective on shares of NVIDIA from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Monday, July 7th. Bank of America upped their price objective on shares of NVIDIA from $180.00 to $220.00 in a report on Wednesday, July 16th. Arete Research raised NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. Needham & Company LLC raised their price objective on NVIDIA from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Wednesday, July 16th. Finally, Jefferies Financial Group raised their price objective on NVIDIA from $185.00 to $200.00 in a research report on Wednesday, July 16th. One 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $183.75.

Insiders Place Their Bets

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the transaction, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,687,440 shares of company stock valued at $862,095,782. 4.17% of the stock is owned by company insiders.

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.