NVIDIA Co. (NASDAQ:NVDA) is Jessup Wealth Management Inc's 3rd Largest Position

Jessup Wealth Management Inc cut its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 139,979 shares of the computer hardware maker's stock after selling 2,936 shares during the period. NVIDIA comprises about 8.0% of Jessup Wealth Management Inc's investment portfolio, making the stock its 3rd largest position. Jessup Wealth Management Inc's holdings in NVIDIA were worth $18,798,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

Several analysts have commented on NVDA shares. Summit Insights lowered shares of NVIDIA from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Cantor Fitzgerald reissued an "overweight" rating and set a $200.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. HSBC cut their price target 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. Rosenblatt Securities reissued a "buy" rating and issued a $220.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, DA Davidson reduced their target price on NVIDIA from $135.00 to $125.00 and set a "neutral" rating on the stock in a research report on Thursday, March 20th. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $171.51.

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NVIDIA Price Performance

Shares of NVIDIA stock traded down $1.76 on Friday, hitting $109.67. The company's stock had a trading volume of 229,047,047 shares, compared to its average volume of 315,186,387. The company has a market capitalization of $2.68 trillion, a price-to-earnings ratio of 43.16, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The firm has a fifty day moving average price of $125.57 and a 200-day moving average price of $131.32. 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 $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $38.16 billion. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity

In other news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred 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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Aarti S. Shah sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now owns 53,208 shares of the company's stock, valued at $6,300,891.36. The trade was a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 183,609 shares of company stock worth $22,642,615 over the last 90 days. 4.23% of the stock is currently owned by company insiders.

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.