Mayfair Advisory Group LLC Sells 3,298 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Mayfair Advisory Group LLC lessened its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 16.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,137 shares of the computer hardware maker’s stock after selling 3,298 shares during the quarter. NVIDIA comprises 1.1% of Mayfair Advisory Group LLC’s holdings, making the stock its 20th biggest position. Mayfair Advisory Group LLC’s holdings in NVIDIA were worth $1,857,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of NVDA. Wells Trecaso Financial Group LLC lifted its holdings in shares of NVIDIA by 1.1% during the 1st quarter. Wells Trecaso Financial Group LLC now owns 10,737 shares of the computer hardware maker’s stock valued at $1,164,000 after purchasing an additional 116 shares during the last quarter. Wolf Group Capital Advisors increased its position in NVIDIA by 1,706.9% during the 1st quarter. Wolf Group Capital Advisors now owns 36,518 shares of the computer hardware maker’s stock valued at $3,958,000 after buying an additional 34,497 shares in the last quarter. Lion Street Advisors LLC raised its stake in NVIDIA by 4.6% in the first quarter. Lion Street Advisors LLC now owns 33,976 shares of the computer hardware maker’s stock valued at $3,682,000 after buying an additional 1,479 shares during the last quarter. Cornerstone Wealth Management LLC grew its stake in shares of NVIDIA by 1.3% during the first quarter. Cornerstone Wealth Management LLC now owns 242,773 shares of the computer hardware maker’s stock worth $26,312,000 after acquiring an additional 3,138 shares during the last quarter. Finally, Shepherd Financial Partners LLC increased its holdings in shares of NVIDIA by 14.6% during the first quarter. Shepherd Financial Partners LLC now owns 97,162 shares of the computer hardware maker’s stock valued at $10,530,000 after acquiring an additional 12,402 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 1.3%

NVDA stock opened at $159.28 on Friday. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $160.98. 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 simple moving average of $136.38 and a 200-day simple moving average of $127.84. The stock has a market capitalization of $3.89 trillion, a P/E ratio of 51.38, a P/E/G ratio of 1.41 and a beta of 2.13.

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

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the completion of the sale, the chief executive officer owned 75,548,225 shares of the company’s stock, valued at $11,524,126,241.50. This represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 168,195 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total transaction of $25,673,284.80. Following the completion of the sale, the executive vice president owned 4,018,547 shares of the company’s stock, valued at $613,391,014.08. This trade represents a 4.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,044,919 shares of company stock worth $584,414,209. Company insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NVDA. Mizuho boosted their target price on shares of NVIDIA from $170.00 to $185.00 and gave the stock an “outperform” rating in a research report on Thursday. Loop Capital raised their target price on NVIDIA from $175.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, June 25th. Barclays raised their price objective on NVIDIA from $170.00 to $200.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 17th. Truist Financial upped their target price on NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Finally, Rosenblatt Securities raised their price target on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, thirty-four have assigned a buy rating and three have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $176.19.

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.