Mycio Wealth Partners LLC Trims Stake in NVIDIA Co. (NASDAQ:NVDA)

Mycio Wealth Partners LLC reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.6% in the fourth quarter, Holdings Channel reports. The firm owned 2,720 shares of the computer hardware maker’s stock after selling 160 shares during the period. Mycio Wealth Partners LLC’s holdings in NVIDIA were worth $365,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC grew its position in NVIDIA by 2.2% in the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after acquiring an additional 11,525,969 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in NVIDIA by 3.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after acquiring an additional 6,526,200 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in NVIDIA by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock worth $17,738,630,000 after acquiring an additional 2,042,348 shares in the last quarter. Fisher Asset Management LLC grew its position in NVIDIA by 3.5% in the third quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker’s stock worth $11,745,763,000 after acquiring an additional 3,283,380 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in NVIDIA by 0.3% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 63,615,639 shares of the computer hardware maker’s stock worth $8,542,944,000 after acquiring an additional 186,761 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on NVDA shares. Mizuho lowered their price target on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Friday. Citigroup boosted their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Phillip Securities reissued an “accumulate” rating and issued a $160.00 price target (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Bank of America boosted their price target on shares of NVIDIA from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $171.51.

Insider Activity

In related news, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 5.3 %

NASDAQ:NVDA opened at $121.67 on Monday. The company’s 50 day moving average price is $129.26 and its 200-day moving average price is $131.23. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.97 trillion, a price-to-earnings ratio of 47.88, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. On average, equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s payout ratio is 1.36%.

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.