Advisory Alpha LLC Reduces Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Advisory Alpha LLC cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 50.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,608 shares of the computer hardware maker’s stock after selling 55,225 shares during the period. Advisory Alpha LLC’s holdings in NVIDIA were worth $5,918,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hickory Point Bank & Trust bought a new position in shares of NVIDIA in the fourth quarter worth about $2,272,000. Capital Performance Advisors LLP boosted its stake in NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after buying an additional 9,944 shares during the last quarter. Waddell & Associates LLC grew its holdings in NVIDIA by 1.2% during the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock valued at $3,240,000 after buying an additional 297 shares in the last quarter. Strategy Asset Managers LLC increased its position in NVIDIA by 0.8% in the fourth quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock worth $7,024,000 after purchasing an additional 405 shares during the last quarter. Finally, Ethos Financial Group LLC grew its stake in shares of NVIDIA by 24.1% in the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock worth $4,312,000 after buying an additional 6,241 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research note on Friday, May 23rd. DA Davidson raised their price objective on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. TD Cowen increased their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, May 29th. Hsbc Global Res lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Finally, Bank of America raised their price objective on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $171.66.

NVIDIA Price Performance

NVDA stock opened at $142.63 on Tuesday. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $195.95. The firm has a market cap of $3.48 trillion, a P/E ratio of 56.13, a PEG ratio of 1.76 and a beta of 2.12. The stock’s 50 day moving average price is $119.10 and its 200 day moving average price is $126.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

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). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same period in the prior year, the company earned $0.61 EPS. The company’s revenue was up 69.2% compared to the same quarter last year. On average, sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. The trade was a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares in the company, valued at $28,993,071.56. The trade was a 17.52% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,255,320 shares of company stock worth $172,680,419. 4.17% of the stock is currently owned by company insiders.

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.