Fort Pitt Capital Group LLC reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 1.5% during the first quarter, Holdings Channel reports. The firm owned 2,500 shares of the computer hardware maker’s stock after selling 38 shares during the period. Fort Pitt Capital Group LLC’s holdings in NVIDIA Corporation were worth $272,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its position in shares of NVIDIA Corporation by 17.5% in the first quarter. Quadrant Capital Group LLC now owns 1,055 shares of the computer hardware maker’s stock valued at $105,000 after buying an additional 157 shares during the period. Coconut Grove Bank raised its stake in NVIDIA Corporation by 683.9% in the first quarter. Coconut Grove Bank now owns 1,215 shares of the computer hardware maker’s stock valued at $132,000 after buying an additional 1,060 shares in the last quarter. TrimTabs Asset Management LLC raised its stake in NVIDIA Corporation by 88.9% in the first quarter. TrimTabs Asset Management LLC now owns 1,598 shares of the computer hardware maker’s stock valued at $174,000 after buying an additional 752 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in NVIDIA Corporation during the first quarter valued at about $182,000. Finally, Greenleaf Trust acquired a new stake in NVIDIA Corporation during the first quarter valued at about $203,000. Institutional investors own 70.10% of the company’s stock.

Shares of NVIDIA Corporation (NASDAQ:NVDA) opened at 152.15 on Tuesday. The stock has a market cap of $90.53 billion, a price-to-earnings ratio of 51.07 and a beta of 1.24. The firm has a 50-day moving average price of $136.06 and a 200-day moving average price of $112.54. NVIDIA Corporation has a 52 week low of $44.57 and a 52 week high of $168.50.

NVIDIA Corporation (NASDAQ:NVDA) last issued its quarterly earnings data on Tuesday, May 9th. The computer hardware maker reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.16. The business had revenue of $1.94 billion during the quarter, compared to the consensus estimate of $1.91 billion. NVIDIA Corporation had a net margin of 25.95% and a return on equity of 36.40%. The company’s revenue was up 48.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.46 earnings per share. On average, equities analysts anticipate that NVIDIA Corporation will post $3.09 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 14th. Stockholders of record on Tuesday, May 23rd were paid a dividend of $0.14 per share. The ex-dividend date was Friday, May 19th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.37%. NVIDIA Corporation’s dividend payout ratio is currently 18.60%.

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NVDA has been the subject of several research analyst reports. BMO Capital Markets reissued an “underperform” rating and set a $85.00 price objective on shares of NVIDIA Corporation in a research note on Wednesday, May 10th. Bank of America Corporation reissued a “buy” rating and set a $185.00 price objective on shares of NVIDIA Corporation in a research note on Wednesday, June 21st. Roth Capital reissued a “neutral” rating on shares of NVIDIA Corporation in a research note on Wednesday, May 10th. Citigroup Inc. reissued a “buy” rating and set a $145.00 price objective on shares of NVIDIA Corporation in a research note on Wednesday, May 10th. Finally, Vetr lowered NVIDIA Corporation from a “hold” rating to a “sell” rating and set a $129.84 price objective for the company. in a research note on Tuesday, May 16th. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have given a buy rating and three have given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $121.22.

In related news, Director Harvey C. Jones sold 145,520 shares of the company’s stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $159.31, for a total transaction of $23,182,791.20. Following the completion of the sale, the director now owns 30,762 shares of the company’s stock, valued at approximately $4,900,694.22. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert K. Burgess sold 50,000 shares of the company’s stock in a transaction dated Wednesday, June 21st. The shares were sold at an average price of $158.08, for a total transaction of $7,904,000.00. Following the sale, the director now directly owns 14,350 shares of the company’s stock, valued at approximately $2,268,448. The disclosure for this sale can be found here. Insiders have sold 605,824 shares of company stock valued at $85,226,395 in the last three months. Corporate insiders own 5.17% of the company’s stock.

About NVIDIA Corporation

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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Institutional Ownership by Quarter for NVIDIA Corporation (NASDAQ:NVDA)

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