Beta Wealth Group Inc. Sells 690 Shares of NVIDIA Co. (NASDAQ:NVDA)

Beta Wealth Group Inc. reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.2% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 20,771 shares of the computer hardware maker’s stock after selling 690 shares during the quarter. NVIDIA accounts for approximately 1.2% of Beta Wealth Group Inc.’s portfolio, making the stock its 25th largest holding. Beta Wealth Group Inc.’s holdings in NVIDIA were worth $2,789,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. International Assets Investment Management LLC lifted its holdings in NVIDIA by 12,898.6% during the third quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after purchasing an additional 55,859,917 shares during the last quarter. Clear Street Derivatives LLC purchased a new stake in shares of NVIDIA in the third quarter worth about $4,589,905,000. Geode Capital Management LLC lifted its holdings in shares of 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 buying an additional 11,525,969 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 buying an additional 6,526,200 shares in the last quarter. Finally, National Pension Service lifted its holdings in shares of NVIDIA by 14.9% in the third quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock worth $5,734,483,000 after buying an additional 6,118,674 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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 owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock worth $22,117,015 in the last three months. 4.23% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NVDA. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Bank of America restated a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday. Susquehanna restated a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a report on Wednesday. HSBC cut their target price on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, KeyCorp set a $190.00 target price on shares of NVIDIA in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Price Performance

NASDAQ NVDA opened at $117.70 on Friday. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The firm has a market capitalization of $2.87 trillion, a P/E ratio of 46.32, a PEG ratio of 1.76 and a beta of 1.77. 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 company has a 50-day moving average price of $126.92 and a 200-day moving average price of $131.18.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Equities research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

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.