NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Prosperity Wealth Management Inc.

Prosperity Wealth Management Inc. trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 36.8% in the 4th quarter, HoldingsChannel reports. The fund owned 1,869 shares of the computer hardware maker’s stock after selling 1,087 shares during the quarter. NVIDIA makes up approximately 0.6% of Prosperity Wealth Management Inc.’s holdings, making the stock its 26th biggest holding. Prosperity Wealth Management Inc.’s holdings in NVIDIA were worth $926,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LFA Lugano Financial Advisors SA purchased a new position in NVIDIA in the fourth quarter valued at approximately $28,000. Your Advocates Ltd. LLP purchased a new position in shares of NVIDIA during the third quarter worth about $30,000. Trivant Custom Portfolio Group LLC increased its stake in shares of NVIDIA by 44.1% during the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock worth $43,000 after acquiring an additional 30 shares during the period. O Brien Wealth Partners LLC grew its stake in shares of NVIDIA by 139.5% during the 4th quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock worth $45,000 after purchasing an additional 53 shares during the period. Finally, Beacon Capital Management Inc. acquired a new position in shares of NVIDIA during the 4th quarter worth $50,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Price Performance

NVIDIA stock opened at $826.32 on Friday. NVIDIA Co. has a 52 week low of $266.25 and a 52 week high of $974.00. The firm has a market cap of $2.07 trillion, a P/E ratio of 69.21, a P/E/G ratio of 1.14 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The business’s fifty day moving average is $851.37 and its two-hundred day moving average is $632.39.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. The business had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. NVIDIA’s revenue was up 265.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the transaction, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Mark A. Stevens sold 22,700 shares of the business’s 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 $925,845,476.01. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 12,000 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $853.54, for a total value of $10,242,480.00. Following the transaction, the director now owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. 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 in the last 90 days. 3.99% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of several recent analyst reports. CICC Research assumed coverage on shares of NVIDIA in a report on Wednesday, March 6th. They set an “outperform” rating and a $870.00 price objective on the stock. UBS Group boosted their target price on shares of NVIDIA from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Raymond James raised their price target on shares of NVIDIA from $850.00 to $1,100.00 and gave the company a “strong-buy” rating in a research note on Thursday, April 11th. HSBC upped their price target on NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, Evercore ISI started coverage on shares of NVIDIA in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,160.00 price objective on the stock. Four 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $940.30.

NVIDIA Company 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.