Geneos Wealth Management Inc. Sells 97 Shares of NVIDIA Co. (NASDAQ:NVDA)

Geneos Wealth Management Inc. trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 13,643 shares of the computer hardware maker’s stock after selling 97 shares during the quarter. Geneos Wealth Management Inc.’s holdings in NVIDIA were worth $6,756,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of NVIDIA by 1.1% during the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock worth $88,598,850,000 after purchasing an additional 2,287,471 shares during the period. Geode Capital Management LLC grew its holdings in NVIDIA by 0.6% during the 1st quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock valued at $12,763,663,000 after buying an additional 267,061 shares in the last quarter. Morgan Stanley grew its holdings in NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after buying an additional 4,621,002 shares in the last quarter. Norges Bank purchased a new position in NVIDIA during the 4th quarter valued at about $3,900,874,000. Finally, Northern Trust Corp grew its holdings in NVIDIA by 3.6% during the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after buying an additional 910,009 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $800.74, for a total value of $4,003,700.00. Following the sale, the director now directly owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock valued at $52,689,898 over the last ninety days. Company insiders own 3.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NVDA. HSBC lifted their target price on NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a report on Monday, March 18th. Wells Fargo & Company lifted their target price on NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. DA Davidson boosted their price objective on NVIDIA from $410.00 to $620.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. The Goldman Sachs Group boosted their price objective on NVIDIA from $875.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Citigroup boosted their price objective on NVIDIA from $820.00 to $1,030.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $940.30.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $840.35 on Thursday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The company has a market cap of $2.10 trillion, a PE ratio of 70.38, a P/E/G ratio of 1.24 and a beta of 1.73. The business has a 50 day moving average of $840.89 and a 200 day moving average of $618.47. NVIDIA Co. has a 52 week low of $262.25 and a 52 week high of $974.00.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.95. The company had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm’s revenue for the quarter was up 265.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.65 earnings per share. As a group, equities research analysts forecast that NVIDIA Co. will post 22.45 earnings per share for the current year.

NVIDIA Announces Dividend

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

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.