Wheelhouse Advisory Group LLC Sells 319 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Wheelhouse Advisory Group LLC lessened its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 4.9% in the first quarter, HoldingsChannel.com reports. The fund owned 6,165 shares of the computer hardware maker’s stock after selling 319 shares during the period. NVIDIA accounts for about 0.4% of Wheelhouse Advisory Group LLC’s investment portfolio, making the stock its 24th largest holding. Wheelhouse Advisory Group LLC’s holdings in NVIDIA were worth $668,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NVDA. Wealth Group Ltd. lifted its position in NVIDIA by 1.8% in the 4th quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker’s stock worth $766,000 after buying an additional 100 shares during the last quarter. Tallon Kerry Patrick purchased a new position in NVIDIA in the 4th quarter worth $972,000. Brighton Jones LLC lifted its stake in NVIDIA by 12.4% in the fourth quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after purchasing an additional 35,815 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its position in NVIDIA by 1.0% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock valued at $315,100,000 after buying an additional 22,929 shares during the period. Finally, Highview Capital Management LLC DE boosted its holdings in NVIDIA by 6.7% during the 4th quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock valued at $7,842,000 after acquiring an additional 3,653 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jen Hsun Huang sold 75,000 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $152.54, for a total transaction of $11,440,500.00. Following the sale, the chief executive officer owned 75,548,225 shares in the company, valued at approximately $11,524,126,241.50. This represents a 0.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 935,000 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the sale, the director owned 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,264,800 shares of company stock worth $786,735,503 in the last 90 days. Company insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $179.27 on Thursday. NVIDIA Corporation has a 52 week low of $86.62 and a 52 week high of $179.89. The firm has a market capitalization of $4.37 trillion, a P/E ratio of 57.83, a price-to-earnings-growth ratio of 1.55 and a beta of 2.13. The company has a fifty day simple moving average of $153.55 and a two-hundred day simple moving average of $131.72. 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 (NASDAQ:NVDA) last announced its earnings results 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 net margin of 51.69% and a return on equity of 105.09%. The business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the prior year, the company posted $0.61 earnings per share. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. Analysts anticipate that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s payout ratio is 1.29%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NVDA. Summit Insights raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Mizuho set a $192.00 price objective on shares of NVIDIA and gave the company an “outperform” rating in a research report on Tuesday, July 15th. Needham & Company LLC raised their target price on shares of NVIDIA from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Finally, Morgan Stanley lifted their price objective on NVIDIA from $170.00 to $200.00 and gave the company an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-three have given a buy rating and four have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $182.03.

NVIDIA 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.