D.A. Davidson & CO. Sells 22,342 Shares of NVIDIA Co. (NASDAQ:NVDA)

D.A. Davidson & CO. lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.2% in the fourth quarter, HoldingsChannel reports. The firm owned 988,121 shares of the computer hardware maker’s stock after selling 22,342 shares during the period. NVIDIA makes up approximately 1.1% of D.A. Davidson & CO.’s holdings, making the stock its 17th largest holding. D.A. Davidson & CO.’s holdings in NVIDIA were worth $132,695,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NVDA. AMF Tjanstepension AB grew its position in shares of NVIDIA by 2.2% during the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock valued at $976,348,000 after acquiring an additional 169,445 shares during the period. Wealth Group Ltd. lifted its stake in shares of NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock valued at $680,000 after buying an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. lifted its stake in NVIDIA by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after purchasing an additional 350 shares in the last quarter. Swedbank AB lifted its stake in NVIDIA by 4.8% in the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock worth $4,965,526,000 after purchasing an additional 1,868,358 shares in the last quarter. Finally, Teamwork Financial Advisors LLC lifted its stake in NVIDIA by 3.8% in the 3rd quarter. Teamwork Financial Advisors LLC now owns 211,546 shares of the computer hardware maker’s stock worth $25,690,000 after purchasing an additional 7,833 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. William Blair restated an “outperform” rating on shares of NVIDIA in a research report on Thursday. Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the company an “overweight” rating in a research report on Wednesday. Truist Financial upped their target price on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, DA Davidson decreased their target price on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $171.51.

Insider Activity at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock valued at $22,117,015 over the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $117.70 on Friday. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The company has a 50 day moving average price of $126.92 and a 200-day moving average price of $131.18. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market capitalization of $2.87 trillion, a PE ratio of 46.32, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its 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 company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. Equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis 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.