Green Alpha Advisors LLC Trims Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Green Alpha Advisors LLC lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 42.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 6,976 shares of the computer hardware maker’s stock after selling 5,138 shares during the period. Green Alpha Advisors LLC’s holdings in NVIDIA were worth $756,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of NVDA. Norges Bank purchased a new position in NVIDIA in the 4th quarter worth approximately $43,515,504,000. GAMMA Investing LLC grew its stake in NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after buying an additional 48,439,859 shares in the last quarter. Northern Trust Corp grew its stake in NVIDIA by 15.8% in the 4th 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 in the last quarter. Proficio Capital Partners LLC grew its stake in NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after buying an additional 34,441,082 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in NVIDIA in the 4th quarter worth approximately $2,987,733,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were 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 of the company’s stock, valued at approximately $55,997,190.40. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the transaction, the director now directly owns 26,671,360 shares of the company’s stock, valued at $3,808,670,208. This represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 2,560,845 shares of company stock valued at $360,351,849. Corporate insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $142.83 on Thursday. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $153.13. The company has a market cap of $3.49 trillion, a P/E ratio of 56.21, a PEG ratio of 1.76 and a beta of 2.12. The firm has a 50-day moving average of $120.91 and a 200 day moving average of $126.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results 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 return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. During the same period in the previous year, the company earned $0.61 earnings per share. NVIDIA’s quarterly revenue was up 69.2% on a year-over-year basis. On average, sell-side analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Bank of America boosted their price target 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. Raymond James boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 29th. Morgan Stanley reissued an “overweight” rating and issued a $170.00 price target (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Finally, TD Cowen upped their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $172.24.

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.