NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Summit Wealth Partners LLC

Summit Wealth Partners LLC trimmed its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 24.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,262 shares of the computer hardware maker's stock after selling 4,597 shares during the quarter. Summit Wealth Partners LLC's holdings in NVIDIA were worth $1,915,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA during the third quarter worth approximately $27,000. Legend Financial Advisors Inc. bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $34,000. West Financial Advisors LLC bought a new position in shares of NVIDIA in the third quarter valued at approximately $36,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $40,000. Finally, DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 70.0% during the third 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 during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Up 1.1 %

NASDAQ:NVDA opened at $117.30 on Thursday. The company has a market cap of $2.86 trillion, a P/E ratio of 46.16, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. 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 Co. has a twelve month low of $75.61 and a twelve month high of $153.13. The business has a 50 day moving average price of $132.73 and a two-hundred day moving average price of $131.90.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA's payout ratio is presently 1.36%.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research reports. Truist Financial boosted their target price on shares of NVIDIA from $204.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Mizuho boosted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Bank of America boosted their target price on shares of NVIDIA from $190.00 to $200.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Benchmark reiterated a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, February 27th. Finally, Needham & Company LLC reissued a "buy" rating and set a $160.00 price objective on shares of NVIDIA in a report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and a consensus price target of $169.62.

Insider Activity

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,107,632 shares of company stock valued at $146,405,286. 4.23% of the stock is owned by insiders.

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.

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