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

Summit Wealth Group LLC reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 17.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,404 shares of the computer hardware maker's stock after selling 4,846 shares during the period. NVIDIA accounts for about 0.9% of Summit Wealth Group LLC's investment portfolio, making the stock its 26th largest position. Summit Wealth Group LLC's holdings in NVIDIA were worth $3,143,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of NVDA. Legend Financial Advisors Inc. acquired a new stake in NVIDIA in the 4th quarter worth about $34,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA during the 4th quarter worth about $40,000. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA during the 4th quarter worth about $46,000. 1620 Investment Advisors Inc. boosted its position in shares of NVIDIA by 145.9% in the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker's stock worth $51,000 after acquiring an additional 248 shares during the last quarter. Finally, Gleason Group Inc. grew its holdings in NVIDIA by 52.9% in the fourth quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker's stock valued at $58,000 after purchasing an additional 148 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 183,609 shares of company stock worth $22,642,615. 4.23% of the stock is currently owned by company insiders.

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NVIDIA Stock Performance

NVDA traded down $7.49 during trading hours on Friday, hitting $94.31. 529,399,816 shares of the stock were exchanged, 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 12 month low of $75.61 and a 12 month high of $195.95. The stock has a 50-day simple moving average of $121.20 and a 200-day simple moving average of $131.07. The stock has a market cap of $2.30 trillion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth 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 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 business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. Analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.

Analyst Ratings Changes

NVDA has been the topic of a number of research analyst reports. Truist Financial lifted their price target on shares of NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, February 27th. DA Davidson reduced their target price on NVIDIA from $135.00 to $125.00 and set a "neutral" rating on the stock in a report on Thursday, March 20th. Summit Insights lowered NVIDIA from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Wedbush reaffirmed an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a research note on Thursday, February 20th. Finally, Mizuho dropped their target price on shares of NVIDIA from $175.00 to $168.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. Six equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $169.89.

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.