Wealth Alliance Trims Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Wealth Alliance lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 12.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,514 shares of the computer hardware maker’s stock after selling 1,086 shares during the period. Wealth Alliance’s holdings in NVIDIA were worth $3,721,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NVDA. Lodestar Private Asset Management LLC boosted its holdings in shares of NVIDIA by 1.0% during the 4th quarter. Lodestar Private Asset Management LLC now owns 1,652 shares of the computer hardware maker’s stock worth $818,000 after purchasing an additional 17 shares during the last quarter. Campbell Newman Asset Management Inc. boosted its holdings in shares of 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 during the last quarter. Aprio Wealth Management LLC boosted its holdings in shares of 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 during the last quarter. Palumbo Wealth Management LLC lifted its holdings in NVIDIA by 0.7% in the fourth quarter. Palumbo Wealth Management LLC now owns 2,816 shares of the computer hardware maker’s stock valued at $1,395,000 after acquiring an additional 19 shares during the last quarter. Finally, Corundum Group Inc. lifted its holdings in NVIDIA by 0.8% in the fourth quarter. Corundum Group Inc. now owns 2,380 shares of the computer hardware maker’s stock valued at $1,179,000 after acquiring an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the topic of a number of recent analyst reports. UBS Group upped their price objective on NVIDIA from $800.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Argus upped their price objective on NVIDIA from $850.00 to $950.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Sanford C. Bernstein upped their price objective on NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Piper Sandler upped their price objective on NVIDIA from $850.00 to $1,050.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, KeyCorp boosted their target price on NVIDIA from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a research report on Monday, April 8th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $940.30.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares in the company, valued at $896,933,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director John Dabiri sold 128 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares in the company, valued at $1,931,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction dated 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 sale, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,278 shares of company stock worth $52,689,898. Company insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $796.77 on Thursday. 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 Co. has a 1 year low of $262.25 and a 1 year high of $974.00. The company has a market capitalization of $1.99 trillion, a PE ratio of 66.73, a P/E/G ratio of 1.14 and a beta of 1.73. The company has a fifty day moving average of $849.38 and a two-hundred day moving average of $631.03.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company 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 posted $0.65 earnings per share. NVIDIA’s revenue for the quarter was up 265.3% on a year-over-year basis. As a group, analysts expect that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Announces Dividend

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

About NVIDIA

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.