Spartan Planning & Wealth Management Sells 24,139 Shares of NVIDIA Co. (NASDAQ:NVDA)

Spartan Planning & Wealth Management trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 47.6% during the first quarter, Holdings Channel reports. The firm owned 26,619 shares of the computer hardware maker’s stock after selling 24,139 shares during the quarter. NVIDIA makes up approximately 2.8% of Spartan Planning & Wealth Management’s portfolio, making the stock its 14th largest holding. Spartan Planning & Wealth Management’s holdings in NVIDIA were worth $2,885,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of NVDA. Norges Bank bought a new position in NVIDIA in the 4th quarter valued at about $43,515,504,000. GAMMA Investing LLC raised its holdings in NVIDIA by 12,173.2% in the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares during the period. Northern Trust Corp raised its holdings in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares during the period. Proficio Capital Partners LLC raised its holdings in NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after acquiring an additional 34,441,082 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in NVIDIA in the 4th quarter valued at about $2,987,733,000. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research analyst reports. TD Cowen increased their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Raymond James raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 29th. Bank of America raised their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, May 14th. HSBC cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Thursday, April 3rd. Finally, Citigroup reaffirmed a “buy” rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have assigned a buy rating and three have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $171.66.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $142.63 on Tuesday. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market capitalization of $3.48 trillion, a P/E ratio of 56.13, a P/E/G ratio of 1.76 and a beta of 2.12. The company’s 50 day moving average price is $119.10 and its two-hundred day moving average price is $126.11.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the prior year, the business earned $0.61 EPS. The business’s quarterly revenue was up 69.2% on a year-over-year basis. On average, equities analysts forecast 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 will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.29%.

Insider Transactions at NVIDIA

In other news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction on 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 transaction, the director now owns 251,044 shares in the company, valued at approximately $28,993,071.56. The trade was a 17.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 125,836 shares of NVIDIA stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $137.79, for a total transaction of $17,338,942.44. Following the transaction, the director now owns 10,149,697 shares in the company, valued at approximately $1,398,526,749.63. This trade represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,255,320 shares of company stock worth $172,680,419. Company insiders own 4.17% of the company’s stock.

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.