Wealth Quarterback LLC Trims Holdings in NVIDIA Co. (NASDAQ:NVDA)

Wealth Quarterback LLC decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 7.6% in the 4th quarter, Holdings Channel reports. The firm owned 17,776 shares of the computer hardware maker’s stock after selling 1,460 shares during the period. NVIDIA accounts for about 1.1% of Wealth Quarterback LLC’s investment portfolio, making the stock its 18th biggest holding. Wealth Quarterback LLC’s holdings in NVIDIA were worth $2,387,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NVDA. International Assets Investment Management LLC raised its position in NVIDIA by 12,898.6% in the 3rd 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 NVIDIA in the 3rd quarter valued at $4,589,905,000. Geode Capital Management LLC raised its position in NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock valued at $66,101,133,000 after purchasing an additional 11,525,969 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NVIDIA by 3.8% during the 3rd 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 during the last quarter. Finally, National Pension Service raised its position in NVIDIA by 14.9% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research report on Wednesday. DA Davidson cut their price objective on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday. Morgan Stanley set a $162.00 price objective on shares of NVIDIA and gave the stock an “overweight” rating in a research report on Wednesday. Summit Insights downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Wedbush restated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, February 20th. Four 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 company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $171.51.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11 % 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, Director John Dabiri sold 2,663 shares of the firm’s 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 completion of the transaction, 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. Over the last quarter, insiders have sold 179,109 shares of company stock worth $22,117,015. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $117.70 on Friday. The company’s 50 day simple moving average is $126.92 and its 200 day simple moving average is $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. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $153.13. The stock has a market capitalization of $2.87 trillion, a PE ratio of 46.32, a P/E/G 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 the consensus estimate 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 analyst estimates of $38.16 billion. As a group, sell-side analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. 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.