NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 0.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 28,618 shares of the computer hardware maker’s stock after selling 270 shares during the period. NVIDIA comprises approximately 1.4% of Palumbo Wealth Management LLC’s portfolio, making the stock its 14th largest position. Palumbo Wealth Management LLC’s holdings in NVIDIA were worth $3,843,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the 4th quarter valued at about $34,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the fourth quarter valued at approximately $40,000. DHJJ Financial Advisors Ltd. lifted its stake in NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares during the last quarter. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA during the fourth quarter worth approximately $46,000. Finally, 1620 Investment Advisors Inc. increased its holdings in shares of NVIDIA by 145.9% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after acquiring an additional 248 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVDA. DA Davidson reaffirmed a “neutral” rating and set a $135.00 price objective on shares of NVIDIA in a research report on Thursday, February 27th. Robert W. Baird increased their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research note on Wednesday. Phillip Securities restated an “accumulate” rating and issued a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Finally, 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. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $171.76.

NVIDIA Trading Up 1.8 %

NVDA stock opened at $117.52 on Thursday. The company has a market capitalization of $2.87 trillion, a PE ratio of 46.25, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a one year low of $75.61 and a one year high of $153.13. The company’s 50 day moving average price is $127.71 and its two-hundred day moving average price is $131.12.

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

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,449 shares of company stock worth $11,960,727 over the last three months. Company insiders own 4.23% of the company’s stock.

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.