Sheets Smith Wealth Management Trims Holdings in NVIDIA Co. (NASDAQ:NVDA)

Sheets Smith Wealth Management decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 95.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 278 shares of the computer hardware maker’s stock after selling 6,145 shares during the period. Sheets Smith Wealth Management’s holdings in NVIDIA were worth $1,831,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. bought a new stake in shares of NVIDIA in the 1st quarter valued at about $28,000. Nordwand Advisors LLC purchased a new position in shares of NVIDIA during the 1st quarter worth approximately $28,000. Financial Connections Group Inc. boosted its position in shares of NVIDIA by 605.7% in the 4th quarter. Financial Connections Group Inc. now owns 247 shares of the computer hardware maker’s stock worth $36,000 after purchasing an additional 212 shares in the last quarter. Chelsea Counsel Co. bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $37,000. Finally, Compass Wealth Management LLC bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $39,000. Institutional investors own 64.79% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of several analyst reports. Oppenheimer upped their price objective on NVIDIA from $500.00 to $650.00 and gave the company an “outperform” rating in a research report on Thursday, August 24th. Tigress Financial upped their price objective on NVIDIA from $320.00 to $560.00 in a research note on Friday, July 7th. BMO Capital Markets increased their price target on NVIDIA from $450.00 to $550.00 and gave the stock an “outperform” rating in a research note on Monday, August 21st. Stifel Nicolaus upgraded NVIDIA from a “hold” rating to a “buy” rating and increased their price target for the stock from $440.00 to $600.00 in a research note on Thursday, August 24th. Finally, Mizuho raised their price objective on NVIDIA from $530.00 to $590.00 and gave the company a “buy” rating in a research report on Thursday, August 24th. One 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 issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $555.70.

Insider Transactions at NVIDIA

In related news, Director Harvey C. Jones sold 119,795 shares of the business’s stock in a transaction on Tuesday, June 13th. The shares were sold at an average price of $403.17, for a total transaction of $48,297,750.15. Following the completion of the transaction, the director now directly owns 676,396 shares in the company, valued at $272,702,575.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 78,602 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $430.50, for a total value of $33,838,161.00. Following the completion of the transaction, the director now owns 1,092,286 shares in the company, valued at $470,229,123. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Harvey C. Jones sold 119,795 shares of the company’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $403.17, for a total transaction of $48,297,750.15. Following the completion of the transaction, the director now owns 676,396 shares of the company’s stock, valued at approximately $272,702,575.32. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 324,536 shares of company stock worth $140,336,278. Company insiders own 3.99% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $455.72 on Friday. The firm’s fifty day simple moving average is $452.59 and its two-hundred day simple moving average is $358.18. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $502.66. The firm has a market capitalization of $1.13 trillion, a P/E ratio of 110.08, a P/E/G ratio of 3.71 and a beta of 1.74.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The business had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. During the same period in the previous year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 101.5% on a year-over-year basis. Analysts forecast that NVIDIA Co. will post 9.24 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed 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 currently 3.86%.

NVIDIA Company Profile

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.