Legacy Wealth Asset Management LLC Cuts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Legacy Wealth Asset Management LLC trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 4.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 35,863 shares of the computer hardware maker’s stock after selling 1,772 shares during the period. NVIDIA accounts for about 1.1% of Legacy Wealth Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Legacy Wealth Asset Management LLC’s holdings in NVIDIA were worth $3,887,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Kaizen Financial Strategies raised its stake in shares of NVIDIA by 3.0% in the 1st quarter. Kaizen Financial Strategies now owns 59,613 shares of the computer hardware maker’s stock valued at $6,461,000 after acquiring an additional 1,717 shares in the last quarter. Conrad Siegel Investment Advisors Inc. raised its stake in shares of NVIDIA by 2.7% in the 1st quarter. Conrad Siegel Investment Advisors Inc. now owns 8,824 shares of the computer hardware maker’s stock valued at $956,000 after acquiring an additional 229 shares in the last quarter. Aletheian Wealth Advisors LLC raised its stake in shares of NVIDIA by 9.0% in the 1st quarter. Aletheian Wealth Advisors LLC now owns 25,889 shares of the computer hardware maker’s stock valued at $2,806,000 after acquiring an additional 2,127 shares in the last quarter. Sterneck Capital Management LLC increased its position in NVIDIA by 5.7% in the 1st quarter. Sterneck Capital Management LLC now owns 3,705 shares of the computer hardware maker’s stock worth $402,000 after buying an additional 200 shares during the period. Finally, Allied Investment Advisors LLC increased its position in NVIDIA by 9.3% in the 1st quarter. Allied Investment Advisors LLC now owns 5,090 shares of the computer hardware maker’s stock worth $552,000 after buying an additional 435 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

Shares of NVDA stock opened at $142.83 on Thursday. The stock’s fifty day simple moving average is $120.91 and its 200 day simple moving average is $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. The firm has a market cap of $3.49 trillion, a price-to-earnings ratio of 56.21, a P/E/G ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a one year low of $86.62 and a one year high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the company posted $0.61 EPS. NVIDIA’s revenue for the quarter was up 69.2% on a year-over-year basis. On average, analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $142.80, for a total value of $142,800,000.00. Following the transaction, the director now directly owns 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,560,845 shares of company stock worth $360,351,849. 4.17% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on NVDA shares. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Wedbush reaffirmed an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. Citigroup reaffirmed a “buy” rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a research report on Thursday, May 29th. DA Davidson lifted their price target on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a research report on Thursday, May 29th. Finally, Stifel Nicolaus set a $180.00 price target on NVIDIA in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.