Institute for Wealth Management LLC. Sells 135 Shares of NVIDIA Co. (NASDAQ:NVDA)

Institute for Wealth Management LLC. trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 0.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 83,380 shares of the computer hardware maker’s stock after selling 135 shares during the period. NVIDIA makes up about 6.7% of Institute for Wealth Management LLC.’s portfolio, making the stock its largest holding. Institute for Wealth Management LLC.’s holdings in NVIDIA were worth $41,292,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC raised its holdings in shares of NVIDIA by 68.4% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 13,032 shares of the computer hardware maker’s stock worth $5,669,000 after purchasing an additional 5,292 shares in the last quarter. 1900 Wealth Management LLC bought a new stake in NVIDIA during the third quarter worth approximately $309,000. DAVENPORT & Co LLC grew its position in NVIDIA by 236.4% in the third quarter. DAVENPORT & Co LLC now owns 149,615 shares of the computer hardware maker’s stock worth $64,920,000 after buying an additional 105,144 shares during the last quarter. Eastern Bank increased its holdings in shares of NVIDIA by 9,297.9% in the third quarter. Eastern Bank now owns 52,910 shares of the computer hardware maker’s stock valued at $23,016,000 after buying an additional 52,347 shares in the last quarter. Finally, Kozak & Associates Inc. lifted its position in shares of NVIDIA by 38.4% during the 3rd quarter. Kozak & Associates Inc. now owns 23,894 shares of the computer hardware maker’s stock valued at $10,935,000 after acquiring an additional 6,633 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Tigress Financial lifted their target price on NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. Craig Hallum lifted their price target on NVIDIA from $700.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. HSBC upped their price objective on shares of NVIDIA from $880.00 to $1,050.00 and gave the company 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 stock a “neutral” rating in a report on Thursday, February 22nd. Finally, TD Cowen boosted their price target on shares of NVIDIA from $900.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $940.30.

NVIDIA Stock Performance

Shares of NVDA opened at $877.35 on Monday. The company has a market capitalization of $2.19 trillion, a PE ratio of 73.48, a price-to-earnings-growth ratio of 1.26 and a beta of 1.73. 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 one year low of $266.25 and a one year high of $974.00. The company’s fifty day moving average price is $854.40 and its 200 day moving average price is $637.76.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the company posted $0.65 earnings per share. The firm’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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. NVIDIA’s payout ratio is 1.34%.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 5,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the completion of the transaction, the director now owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the transaction, the director now directly owns 1,119,583 shares in the company, valued at $896,494,891.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of 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. Insiders have sold 61,278 shares of company stock worth $52,689,898 in the last ninety 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.