Petra Financial Advisors Inc. Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Petra Financial Advisors Inc. lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,535 shares of the computer hardware maker’s stock after selling 298 shares during the period. NVIDIA accounts for approximately 1.9% of Petra Financial Advisors Inc.’s portfolio, making the stock its 12th biggest holding. Petra Financial Advisors Inc.’s holdings in NVIDIA were worth $2,246,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. United Bank boosted its holdings in shares of NVIDIA by 28.9% during the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after purchasing an additional 1,730 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in NVIDIA by 6.8% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock worth $1,065,457,000 after buying an additional 249,045 shares during the period. MAS Advisors LLC lifted its position in NVIDIA by 42.1% during the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock worth $545,000 after buying an additional 583 shares during the period. Navis Wealth Advisors LLC boosted its stake in NVIDIA by 205.3% in the 1st quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock worth $791,000 after buying an additional 1,950 shares during the last quarter. Finally, Ergoteles LLC purchased a new stake in NVIDIA in the 1st quarter valued at about $929,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Tigress Financial raised their target price on shares of NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Sanford C. Bernstein boosted their price objective on shares of NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Mizuho upped their price objective on NVIDIA from $850.00 to $1,000.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Piper Sandler Companies lifted their target price on NVIDIA to $850.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Finally, Truist Financial upped their price target on NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $940.30.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the firm’s 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 in the company, valued at $896,494,891.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the sale, the director now owns 1,119,583 shares in the company, valued at $896,494,891.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 128 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now owns 2,055 shares of the company’s stock, valued at $1,931,700. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock worth $52,689,898 in the last three months. 3.99% of the stock is owned by insiders.

NVIDIA Stock Performance

NVIDIA stock opened at $846.71 on Friday. The company has a market cap of $2.12 trillion, a PE ratio of 70.91, a P/E/G ratio of 1.26 and a beta of 1.73. NVIDIA Co. has a 12 month low of $262.25 and a 12 month high of $974.00. The company has a fifty day moving average price of $843.90 and a two-hundred day moving average price of $620.05. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67.

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

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors 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 yield of 0.02%. NVIDIA’s dividend payout ratio is currently 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.