Jessup Wealth Management Inc Trims Holdings in NVIDIA Co. (NASDAQ:NVDA)

Jessup Wealth Management Inc lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 139,979 shares of the computer hardware maker’s stock after selling 2,936 shares during the quarter. NVIDIA accounts for 8.0% of Jessup Wealth Management Inc’s investment portfolio, making the stock its 3rd biggest position. Jessup Wealth Management Inc’s holdings in NVIDIA were worth $18,798,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in NVDA. AMF Tjanstepension AB increased its stake in shares of NVIDIA by 2.2% in the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after buying an additional 169,445 shares during the period. Wealth Group Ltd. boosted its position in 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 during the period. SOA Wealth Advisors LLC. grew its holdings 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 acquiring an additional 350 shares during the last quarter. Swedbank AB increased its position in shares of NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after acquiring an additional 1,868,358 shares during the period. Finally, Riverview Trust Co raised its stake in shares of NVIDIA by 0.8% during the third quarter. Riverview Trust Co now owns 18,235 shares of the computer hardware maker’s stock valued at $2,214,000 after acquiring an additional 145 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Susquehanna reiterated a “positive” rating and issued a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Barclays raised their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Mizuho cut their price target on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Four research 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Trading Up 3.2 %

NASDAQ:NVDA opened at $121.41 on Tuesday. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The stock has a market cap of $2.96 trillion, a price-to-earnings ratio of 47.78, a PEG ratio of 1.76 and a beta of 1.77. The company’s 50 day moving average price is $126.68 and its 200-day moving average price is $131.46. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its 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 during the quarter, compared to analyst estimates 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 Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,109 shares of company stock worth $22,117,015. Company insiders own 4.23% of the company’s stock.

NVIDIA Company 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.