Viawealth LLC Sells 2,170 Shares of NVIDIA Co. (NASDAQ:NVDA)

Viawealth LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 19.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,264 shares of the computer hardware maker’s stock after selling 2,170 shares during the quarter. NVIDIA makes up 2.0% of Viawealth LLC’s holdings, making the stock its 8th biggest holding. Viawealth LLC’s holdings in NVIDIA were worth $2,573,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in NVDA. Contravisory Investment Management Inc. bought a new stake in NVIDIA in the first quarter valued at approximately $28,000. Nordwand Advisors LLC bought a new stake in NVIDIA in the first quarter valued at approximately $28,000. Financial Connections Group Inc. boosted its holdings in NVIDIA by 605.7% in the fourth quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock valued at $36,000 after acquiring an additional 212 shares during the last quarter. Chelsea Counsel Co. bought a new stake in NVIDIA in the fourth quarter valued at approximately $37,000. Finally, Compass Wealth Management LLC bought a new stake in NVIDIA in the fourth quarter valued at approximately $39,000. 64.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on NVDA shares. StockNews.com assumed coverage on NVIDIA in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Wolfe Research boosted their price target on NVIDIA from $570.00 to $630.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. Barclays boosted their price target on NVIDIA from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. Wedbush boosted their price target on NVIDIA from $490.00 to $600.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. Finally, Oppenheimer boosted their price target on NVIDIA from $500.00 to $650.00 and gave the company an “outperform” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $555.70.

NVIDIA Stock Down 1.4 %

NVDA stock opened at $455.72 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79. The company has a market capitalization of $1.13 trillion, a price-to-earnings ratio of 110.08, a PEG ratio of 3.77 and a beta of 1.74. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $502.66. The stock has a fifty day moving average of $452.59 and a 200-day moving average of $357.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, topping the consensus estimate of $2.08 by $0.62. The company had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. The firm’s quarterly revenue was up 101.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.32 EPS. As a group, equities research analysts predict that NVIDIA Co. will post 9.24 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Stockholders of record on Thursday, September 7th will be paid a dividend of $0.04 per share. The ex-dividend date is Wednesday, September 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. NVIDIA’s payout ratio is 3.86%.

Insider Transactions at NVIDIA

In other news, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the transaction, the chief executive officer now owns 7,800,125 shares in the company, valued at approximately $3,678,148,943.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director John Dabiri sold 283 shares of the stock in a transaction dated Monday, June 26th. The stock was sold at an average price of $424.53, for a total transaction of $120,141.99. Following the sale, the director now owns 2,401 shares of the company’s stock, valued at approximately $1,019,296.53. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jen Hsun Huang sold 29,688 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total value of $13,999,376.40. Following the sale, the chief executive officer now directly owns 7,800,125 shares in the company, valued at approximately $3,678,148,943.75. The disclosure for this sale can be found here. In the last 90 days, insiders sold 324,536 shares of company stock worth $140,336,278. 3.99% of the stock is owned by company insiders.

About NVIDIA

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.