Convergence Financial LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 4.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 75,313 shares of the computer hardware maker's stock after selling 3,824 shares during the period. NVIDIA accounts for about 2.0% of Convergence Financial LLC's portfolio, making the stock its 16th largest position. Convergence Financial LLC's holdings in NVIDIA were worth $10,114,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. lifted its holdings in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock valued at $1,157,000 after purchasing an additional 71 shares during the last quarter. Smart Portfolios LLC raised its position in NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock worth $341,000 after buying an additional 75 shares during the last quarter. Palisade Asset Management LLC raised its holdings in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock worth $1,866,000 after purchasing an additional 75 shares in the last quarter. Baker Boyer National Bank raised its stake in shares of NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after buying an additional 76 shares in the last quarter. Finally, Kwmg LLC lifted its holdings in NVIDIA by 0.6% in the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock valued at $1,755,000 after acquiring an additional 77 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.
NVIDIA Trading Down 7.4 %
Shares of NVIDIA stock traded down $7.49 during midday trading on Friday, reaching $94.31. The company had a trading volume of 529,399,816 shares, compared to its average volume of 312,806,578. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $195.95. The stock has a fifty day moving average price of $121.20 and a 200 day moving average price of $131.19. The firm has a market cap of $2.30 trillion, a PE ratio of 37.12, a P/E/G ratio of 1.76 and a beta of 1.96.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share 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 for the quarter, compared to the consensus estimate of $38.16 billion. On average, equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were 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 was Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is 1.36%.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on NVDA. Benchmark reaffirmed a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Truist Financial boosted their price target on NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a report on Wednesday, February 26th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, DZ Bank raised shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $169.89.
Check Out Our Latest Research Report on NVDA
Insider Transactions at NVIDIA
In related news, Director John Dabiri sold 2,663 shares of NVIDIA 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 transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value 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 $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 183,609 shares of company stock worth $22,642,615. 4.23% of the stock is owned by company insiders.
About NVIDIA
(
Free Report)
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.
Recommended Stories
Before you consider NVIDIA, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NVIDIA wasn't on the list.
While NVIDIA currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
With the proliferation of data centers and electric vehicles, the electric grid will only get more strained. Download this report to learn how energy stocks can play a role in your portfolio as the global demand for energy continues to grow.
Get This Free Report
