Resonant Capital Advisors LLC Sells 308 Shares of NVIDIA Co. (NASDAQ:NVDA)

Resonant Capital Advisors LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,089 shares of the computer hardware maker’s stock after selling 308 shares during the period. Resonant Capital Advisors LLC’s holdings in NVIDIA were worth $2,025,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Ratings Changes

A number of brokerages have commented on NVDA. Rosenblatt Securities reissued a “buy” rating and issued a $1,100.00 price objective on shares of NVIDIA in a research note on Tuesday, February 20th. Wedbush restated an “outperform” rating and set a $1,000.00 price objective on shares of NVIDIA in a research report on Tuesday, March 19th. Deutsche Bank Aktiengesellschaft raised their price objective on NVIDIA from $720.00 to $850.00 and gave the company a “hold” rating in a research note on Wednesday, March 20th. Wells Fargo & Company boosted their target price on NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a research report on Tuesday, March 19th. Finally, The Goldman Sachs Group lifted their price target on shares of NVIDIA from $875.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. 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 stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $940.30.

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other NVIDIA news, Director John Dabiri sold 128 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the sale, the director now directly owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the transaction, the insider now owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is owned by company insiders.

NVIDIA Price Performance

Shares of NVDA stock opened at $877.35 on Monday. NVIDIA Co. has a fifty-two week low of $266.25 and a fifty-two week high of $974.00. 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 firm has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 73.48, a PEG ratio of 1.26 and a beta of 1.73. The stock’s 50-day simple moving average is $854.40 and its 200-day simple moving average is $637.76.

NVIDIA (NASDAQ:NVDA) last released its 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 the consensus estimate 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 quarter in the previous year, the firm earned $0.65 EPS. As a group, equities analysts forecast that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced 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 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 (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.