Saturna Capital Corp Sells 3,054 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Saturna Capital Corp reduced its stake in NVIDIA Corporation (NASDAQ:NVDA) by 0.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,322,471 shares of the computer hardware maker’s stock after selling 3,054 shares during the period. NVIDIA comprises approximately 3.8% of Saturna Capital Corp’s investment portfolio, making the stock its 6th largest position. Saturna Capital Corp’s holdings in NVIDIA were worth $251,709,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Copia Wealth Management acquired a new position in shares of NVIDIA during the fourth quarter worth $50,000. LSV Asset Management acquired a new position in shares of NVIDIA during the 4th quarter valued at $54,000. Barnes Dennig Private Wealth Management LLC acquired a new position in shares of NVIDIA during the first quarter valued at about $51,000. Bruce G. Allen Investments LLC raised its stake in NVIDIA by 198.2% during the 1st quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker’s stock worth $53,000 after buying an additional 327 shares during the period. Finally, Delos Wealth Advisors LLC raised its position in shares of NVIDIA by 134.8% during the fourth quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock worth $66,000 after purchasing an additional 283 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Up 0.2%

NVDA opened at $182.02 on Friday. The stock has a market capitalization of $4.44 trillion, a price-to-earnings ratio of 58.72, a PEG ratio of 1.60 and a beta of 2.14. 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 firm has a 50 day moving average price of $163.18 and a 200-day moving average price of $135.00. NVIDIA Corporation has a twelve month low of $86.62 and a twelve month high of $184.48.

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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The firm had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter last year, the company posted $0.61 EPS. The firm’s revenue was up 69.2% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $181.38, for a total value of $13,603,500.00. Following the completion of the sale, the chief executive officer directly 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 27,640 shares of the stock in a transaction on Monday, August 4th. The stock was 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. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,837,440 shares of company stock valued at $889,404,782. Company insiders own 4.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NVDA shares. Arete Research raised NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. UBS Group reissued a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Raymond James Financial lifted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research note on Thursday, May 29th. Citigroup boosted their price objective on shares of NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, July 7th. Finally, TD Cowen boosted their target price on NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $186.33.

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.