NVIDIA Corporation (NASDAQ:NVDA) Shares Sold by Morse Asset Management Inc

Morse Asset Management Inc decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 2.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 199,923 shares of the computer hardware maker’s stock after selling 4,334 shares during the quarter. NVIDIA comprises about 5.5% of Morse Asset Management Inc’s portfolio, making the stock its biggest position. Morse Asset Management Inc’s holdings in NVIDIA were worth $21,668,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in NVDA. Astoria Portfolio Advisors LLC. lifted its position in NVIDIA by 0.9% during the 1st 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 lifted its position in NVIDIA by 2.5% during the 1st quarter. Centerpoint Advisory Group now owns 39,398 shares of the computer hardware maker’s stock worth $4,270,000 after acquiring an additional 943 shares during the period. GSB Wealth Management LLC lifted its position in NVIDIA by 3.3% during the 1st quarter. GSB Wealth Management LLC now owns 32,611 shares of the computer hardware maker’s stock worth $3,534,000 after acquiring an additional 1,043 shares during the period. Variant Private Wealth LLC lifted its position in NVIDIA by 20.6% during the 1st quarter. Variant Private Wealth LLC now owns 18,800 shares of the computer hardware maker’s stock worth $2,038,000 after acquiring an additional 3,206 shares during the period. Finally, Financial Perspectives Inc lifted its position in NVIDIA by 2.8% during the 1st quarter. Financial Perspectives Inc now owns 45,958 shares of the computer hardware maker’s stock worth $4,981,000 after acquiring an additional 1,265 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Jefferies Financial Group boosted their price objective on NVIDIA from $185.00 to $200.00 in a report on Wednesday, July 16th. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. Wedbush reissued an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. UBS Group reissued a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. Finally, The Goldman Sachs Group assumed coverage on NVIDIA in a report on Thursday, July 10th. They issued a “buy” rating and a $185.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-two have issued a buy rating and four have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $186.33.

NVIDIA Price Performance

NVIDIA stock opened at $180.45 on Friday. The company has a fifty day simple moving average of $163.96 and a 200-day simple moving average of $135.45. The firm has a market capitalization of $4.40 trillion, a price-to-earnings ratio of 58.21, a PEG ratio of 1.59 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. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $184.48.

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

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were issued 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 NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction dated 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 owned 72,998,225 shares in the company, valued at approximately $13,240,418,050.50. This represents a 0.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 27,640 shares of the stock in a transaction dated Monday, August 4th. The shares were sold at an average price of $178.06, for a total transaction 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 approximately $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 quarter, insiders sold 5,837,440 shares of company stock valued at $889,404,782. 4.17% of the stock is owned by insiders.

NVIDIA Company 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.