Wealthfront Advisers LLC Lowers Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Wealthfront Advisers LLC reduced its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 98.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,988 shares of the computer hardware maker's stock after selling 3,759,987 shares during the quarter. Wealthfront Advisers LLC's holdings in NVIDIA were worth $7,116,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. grew its holdings in NVIDIA by 0.8% in the fourth 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 period. Smart Portfolios LLC grew its position in shares of NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock valued at $341,000 after purchasing an additional 75 shares during the period. Palisade Asset Management LLC raised its position in shares of NVIDIA by 0.5% during the 3rd 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 during the last quarter. Baker Boyer National Bank boosted its holdings in NVIDIA by 3.3% in 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 during the last quarter. Finally, Kwmg LLC raised its holdings in shares of NVIDIA by 0.6% during 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 last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research reports. Wedbush reiterated an "outperform" rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday. Mizuho decreased their target price on NVIDIA from $175.00 to $168.00 and set an "outperform" rating for the company in a report on Friday, March 14th. Morgan Stanley set a $162.00 price target on NVIDIA and gave the company an "overweight" rating in a research report on Wednesday, March 19th. DA Davidson cut their target price on shares of NVIDIA from $125.00 to $120.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. Finally, Hsbc Global Res cut shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. Six analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $165.51.

NVIDIA Price Performance

NVIDIA stock traded down $3.16 during trading hours on Friday, hitting $101.33. The stock had a trading volume of 290,593,259 shares, compared to its average volume of 309,758,204. The stock has a market capitalization of $2.47 trillion, a price-to-earnings ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96. 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 1-year low of $76.40 and a 1-year high of $195.95. The stock's fifty day moving average is $116.56 and its two-hundred day moving average is $129.86.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a 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%.

Insiders Place Their Bets

In other news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,147 shares of company stock valued at $17,133,207. Corporate 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.