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

Summit Financial Wealth Advisors LLC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,283 shares of the computer hardware maker’s stock after selling 154 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in NVIDIA were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Argent Trust Co raised its stake in NVIDIA by 2.4% during the 4th quarter. Argent Trust Co now owns 222,443 shares of the computer hardware maker’s stock valued at $29,872,000 after acquiring an additional 5,274 shares in the last quarter. First Foundation Advisors increased its holdings in shares of NVIDIA by 13.0% during the fourth quarter. First Foundation Advisors now owns 209,749 shares of the computer hardware maker’s stock valued at $28,167,000 after purchasing an additional 24,127 shares during the period. Zuckerman Investment Group LLC raised its stake in shares of NVIDIA by 29.2% during the fourth quarter. Zuckerman Investment Group LLC now owns 6,534 shares of the computer hardware maker’s stock valued at $877,000 after purchasing an additional 1,476 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in NVIDIA by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 10,787,937 shares of the computer hardware maker’s stock worth $1,448,712,000 after purchasing an additional 63,472 shares during the period. Finally, Redwood Park Advisors LLC bought a new position in NVIDIA in the 4th quarter valued at about $72,000. 65.27% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock valued at $17,133,207 over the last 90 days. 4.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on NVDA. Rosenblatt Securities dropped their price target on shares of NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Mizuho dropped their target price on NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. DA Davidson decreased their price target on NVIDIA from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. TD Cowen dropped their price objective on NVIDIA from $175.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.96.

NVIDIA Stock Performance

Shares of NVDA opened at $116.65 on Friday. The firm has a market cap of $2.85 trillion, a price-to-earnings ratio of 45.91, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. The company’s fifty day moving average is $110.29 and its 200-day moving average is $127.28. 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 12 month low of $86.62 and a 12 month high of $195.95.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

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.