Sunbelt Securities Inc. Decreases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Sunbelt Securities Inc. decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 29.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,374 shares of the computer hardware maker’s stock after selling 9,733 shares during the quarter. NVIDIA comprises about 1.0% of Sunbelt Securities Inc.’s investment portfolio, making the stock its 14th largest position. Sunbelt Securities Inc.’s holdings in NVIDIA were worth $6,401,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in NVIDIA in the 4th quarter worth about $3,900,874,000. Moneta Group Investment Advisors LLC boosted its holdings in shares of NVIDIA by 160,446.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after buying an additional 19,574,443 shares in the last quarter. GQG Partners LLC bought a new stake in shares of NVIDIA in the 1st quarter valued at about $2,290,856,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of NVIDIA by 9.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after buying an additional 5,043,685 shares in the last quarter. Finally, Morgan Stanley boosted its stake in NVIDIA by 20.2% in the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after purchasing an additional 4,621,002 shares in the last quarter. Hedge funds and other institutional investors own 64.79% of the company’s stock.

NVIDIA Stock Down 0.7 %

Shares of NVDA opened at $448.70 on Wednesday. The firm has a market cap of $1.11 trillion, a P/E ratio of 108.38, a price-to-earnings-growth ratio of 3.71 and a beta of 1.74. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $502.66. The company’s 50-day moving average price is $453.63 and its 200 day moving average price is $362.27. 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 (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.62. The firm had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. NVIDIA’s revenue was up 101.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.32 EPS. On average, sell-side analysts forecast that NVIDIA Co. will post 9.24 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 28th. Shareholders 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 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is presently 3.86%.

Analyst Ratings Changes

NVDA has been the subject of a number of recent analyst reports. UBS Group lifted their target price on shares of NVIDIA from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Thursday, August 24th. Daiwa Capital Markets raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $408.00 to $475.00 in a report on Thursday, June 29th. Piper Sandler lifted their price target on shares of NVIDIA from $500.00 to $620.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. Tigress Financial lifted their price target on shares of NVIDIA from $320.00 to $560.00 in a research note on Friday, July 7th. Finally, Mizuho lifted their price target on shares of NVIDIA from $530.00 to $590.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $555.70.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 4,980 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the sale, the chief financial officer now directly owns 499,428 shares in the company, valued at $230,106,456.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Jen Hsun Huang sold 29,688 shares of the company’s stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $448.99, for a total transaction of $13,329,615.12. Following the sale, the chief executive officer now directly owns 7,918,875 shares in the company, valued at $3,555,495,686.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 4,980 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the sale, the chief financial officer now owns 499,428 shares in the company, valued at $230,106,456.72. The disclosure for this sale can be found here. Insiders have sold 234,429 shares of company stock worth $105,368,143 over the last three months. Company insiders own 3.99% of the company’s stock.

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.