Segment Wealth Management LLC Sells 519 Shares of NVIDIA Co. (NASDAQ:NVDA)

Segment Wealth Management LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,016 shares of the computer hardware maker’s stock after selling 519 shares during the quarter. Segment Wealth Management LLC’s holdings in NVIDIA were worth $10,408,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Campbell Newman Asset Management Inc. increased its stake in NVIDIA by 0.6% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 2,991 shares of the computer hardware maker’s stock worth $1,481,000 after purchasing an additional 18 shares in the last quarter. Aprio Wealth Management LLC increased its stake in NVIDIA by 1.8% during the 4th quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock worth $523,000 after purchasing an additional 19 shares in the last quarter. Palumbo Wealth Management LLC increased its stake in NVIDIA by 0.7% during the 4th quarter. Palumbo Wealth Management LLC now owns 2,816 shares of the computer hardware maker’s stock worth $1,395,000 after purchasing an additional 19 shares in the last quarter. Corundum Group Inc. increased its stake in NVIDIA by 0.8% during the 4th quarter. Corundum Group Inc. now owns 2,380 shares of the computer hardware maker’s stock worth $1,179,000 after purchasing an additional 19 shares in the last quarter. Finally, North Star Investment Management Corp. grew its stake in shares of NVIDIA by 0.3% during the 4th quarter. North Star Investment Management Corp. now owns 6,994 shares of the computer hardware maker’s stock worth $3,463,000 after acquiring an additional 20 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several research reports. Piper Sandler Companies raised their price target on shares of NVIDIA to $850.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. TD Cowen raised their price target on shares of NVIDIA from $900.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Truist Financial raised their price target on shares of NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. DA Davidson raised their target price on shares of NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Finally, Mizuho raised their target price on shares of NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $940.30.

NVIDIA Trading Up 1.6 %

Shares of NVIDIA stock opened at $874.15 on Wednesday. The stock has a fifty day simple moving average of $838.10 and a 200 day simple moving average of $616.90. NVIDIA Co. has a 12-month low of $262.25 and a 12-month high of $974.00. The company has a market capitalization of $2.19 trillion, a P/E ratio of 73.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.73. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.95. The business had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. NVIDIA’s revenue was up 265.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 earnings per share. On average, sell-side analysts anticipate that NVIDIA Co. will post 22.45 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio is presently 1.34%.

Insider Activity

In other news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock valued at $52,689,898 in the last 90 days. Insiders own 3.99% of the company’s stock.

NVIDIA Profile

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.