Riverpark Capital Management LLC Decreases Position in NVIDIA Corporation $NVDA

Riverpark Capital Management LLC lowered its holdings in shares of NVIDIA Corporation (NASDAQ:NVDA) by 13.6% in the second quarter, Holdings Channel.com reports. The institutional investor owned 27,980 shares of the computer hardware maker’s stock after selling 4,422 shares during the period. NVIDIA comprises about 7.2% of Riverpark Capital Management LLC’s holdings, making the stock its biggest position. Riverpark Capital Management LLC’s holdings in NVIDIA were worth $4,421,000 as of its most recent filing with the SEC.

Several other large investors have also bought and sold shares of the business. Morton Brown Family Wealth LLC lifted its holdings in shares of NVIDIA by 1.5% in the second quarter. Morton Brown Family Wealth LLC now owns 3,928 shares of the computer hardware maker’s stock worth $621,000 after acquiring an additional 58 shares during the last quarter. Roof Eidam Maycock Peralta LLC lifted its stake in NVIDIA by 0.3% in the 2nd quarter. Roof Eidam Maycock Peralta LLC now owns 20,903 shares of the computer hardware maker’s stock valued at $3,302,000 after purchasing an additional 58 shares during the last quarter. Alpha Wealth Funds LLC boosted its position in NVIDIA by 1.3% in the second quarter. Alpha Wealth Funds LLC now owns 4,634 shares of the computer hardware maker’s stock valued at $732,000 after buying an additional 59 shares in the last quarter. Copia Wealth Management grew its stake in shares of NVIDIA by 14.7% during the second quarter. Copia Wealth Management now owns 468 shares of the computer hardware maker’s stock worth $74,000 after buying an additional 60 shares during the last quarter. Finally, BKM Wealth Management LLC increased its holdings in shares of NVIDIA by 1.1% during the second quarter. BKM Wealth Management LLC now owns 5,745 shares of the computer hardware maker’s stock worth $908,000 after buying an additional 60 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 350,000 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $176.39, for a total transaction of $61,736,500.00. Following the completion of the sale, the director owned 7,399,803 shares of the company’s stock, valued at $1,305,251,251.17. This trade represents a 4.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Harvey C. Jones sold 250,000 shares of NVIDIA stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $176.21, for a total transaction of $44,052,500.00. Following the completion of the sale, the director owned 7,183,280 shares of the company’s stock, valued at $1,265,765,768.80. This represents a 3.36% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 3,029,931 shares of company stock valued at $548,443,455 in the last ninety days. 4.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NVDA has been the topic of several recent research reports. Morgan Stanley raised their price objective on NVIDIA from $235.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, December 1st. Robert W. Baird set a $275.00 price target on NVIDIA and gave the stock an “outperform” rating in a report on Thursday, November 20th. KeyCorp raised their price objective on shares of NVIDIA from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. The Goldman Sachs Group reissued a “buy” rating and set a $240.00 target price (up from $210.00) on shares of NVIDIA in a report on Friday, October 31st. Finally, Sanford C. Bernstein restated a “buy” rating on shares of NVIDIA in a research report on Tuesday. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $258.65.

NVIDIA Price Performance

NVDA stock opened at $183.78 on Thursday. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The firm has a market cap of $4.47 trillion, a price-to-earnings ratio of 45.60, a PEG ratio of 0.91 and a beta of 2.29. The company’s fifty day simple moving average is $187.10 and its 200 day simple moving average is $173.19. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $212.19.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.07. The firm had revenue of $57.01 billion during the quarter, compared to analyst estimates of $54.66 billion. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The business’s quarterly revenue was up 62.5% on a year-over-year basis. During the same period last year, the company posted $0.81 EPS. On average, analysts expect that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Shareholders of record on Thursday, December 4th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.04 annualized dividend and a yield of 0.0%. NVIDIA’s payout ratio is 0.99%.

NVIDIA Company 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.