NVIDIA Corporation $NVDA Shares Sold by HighTower Advisors LLC

HighTower Advisors LLC cut its holdings in NVIDIA Corporation (NASDAQ:NVDAFree Report) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,210,488 shares of the computer hardware maker’s stock after selling 196,389 shares during the quarter. NVIDIA comprises approximately 1.5% of HighTower Advisors LLC’s holdings, making the stock its 7th largest position. HighTower Advisors LLC’s holdings in NVIDIA were worth $1,344,756,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Longfellow Investment Management Co. LLC raised its position in shares of NVIDIA by 47.9% in the second quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock valued at $33,000 after purchasing an additional 67 shares during the period. Spurstone Advisory Services LLC bought a new position in shares of NVIDIA in the second quarter valued at approximately $40,000. Syntax Research Inc. raised its position in shares of NVIDIA by 62.5% in the fourth quarter. Syntax Research Inc. now owns 260 shares of the computer hardware maker’s stock valued at $49,000 after purchasing an additional 100 shares during the period. Sellwood Investment Partners LLC bought a new position in shares of NVIDIA in the third quarter valued at approximately $50,000. Finally, Networth Advisors LLC bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $51,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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Here are the key news stories impacting NVIDIA this week:

NVIDIA Trading Down 6.2%

Shares of NVIDIA stock opened at $205.10 on Friday. The firm has a market capitalization of $4.96 trillion, a PE ratio of 31.41, a price-to-earnings-growth ratio of 0.49 and a beta of 2.22. The company has a debt-to-equity ratio of 0.04, a current ratio of 3.44 and a quick ratio of 2.85. The company’s fifty day moving average price is $203.37 and its two-hundred day moving average price is $190.55. NVIDIA Corporation has a 52-week low of $140.85 and a 52-week high of $236.54.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its quarterly earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.11. The firm had revenue of $81.62 billion for the quarter, compared to analyst estimates of $78.42 billion. NVIDIA had a net margin of 62.97% and a return on equity of 96.94%. The business’s revenue for the quarter was up 85.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.81 EPS. On average, analysts expect that NVIDIA Corporation will post 8.61 EPS for the current year.

NVIDIA announced that its board has authorized a stock buyback program on Wednesday, May 20th that permits the company to repurchase $80.00 billion in outstanding shares. This repurchase authorization permits the computer hardware maker to buy up to 1.5% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

NVIDIA Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Thursday, June 4th will be issued a $0.25 dividend. This is a boost from NVIDIA’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Thursday, June 4th. This represents a $1.00 annualized dividend and a yield of 0.5%. NVIDIA’s payout ratio is presently 15.31%.

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 20,000 shares of the business’s stock in a transaction on Friday, March 20th. The shares were sold at an average price of $174.89, for a total value of $3,497,800.00. Following the sale, the chief financial officer owned 83,060 shares of the company’s stock, valued at $14,526,363.40. The trade was a 19.41% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Stephen C. Neal sold 15,500 shares of the business’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $215.73, for a total transaction of $3,343,815.00. Following the completion of the sale, the director directly owned 116,135 shares in the company, valued at $25,053,803.55. This trade represents a 11.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,922,461 shares of company stock worth $387,385,083. 3.94% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on NVDA shares. UBS Group lifted their price target on shares of NVIDIA from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. Wolfe Research reissued an “outperform” rating and issued a $275.00 price target on shares of NVIDIA in a research report on Thursday, May 21st. Bank of America reissued a “buy” rating and issued a $350.00 price target (up from $320.00) on shares of NVIDIA in a research report on Thursday, May 21st. Melius Research set a $400.00 price target on shares of NVIDIA in a research report on Thursday, May 21st. Finally, Oppenheimer reissued an “outperform” rating and issued a $265.00 price target on shares of NVIDIA in a research report on Thursday, February 26th. Three investment analysts have rated the stock with a Strong Buy rating, forty-eight have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $305.67.

View Our Latest Report on NVIDIA

NVIDIA Company Profile

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NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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