Lyell Wealth Management LP Lowers Stake in NVIDIA Co. (NASDAQ:NVDA)

Lyell Wealth Management LP cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 74,790 shares of the computer hardware maker’s stock after selling 1,728 shares during the period. NVIDIA makes up 4.2% of Lyell Wealth Management LP’s investment portfolio, making the stock its largest position. Lyell Wealth Management LP’s holdings in NVIDIA were worth $37,038,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in NVIDIA by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after acquiring an additional 2,287,471 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of NVIDIA by 3.6% during the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after buying an additional 910,009 shares during the period. International Assets Investment Management LLC lifted its holdings in shares of NVIDIA by 54,019.5% during the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after buying an additional 16,835,703 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of NVIDIA by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,197,744 shares of the computer hardware maker’s stock valued at $5,740,887,000 after buying an additional 77,089 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of NVIDIA by 2.0% during the 3rd quarter. Wellington Management Group LLP now owns 10,544,759 shares of the computer hardware maker’s stock valued at $4,586,865,000 after buying an additional 209,085 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Price Performance

NVDA opened at $887.89 on Friday. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The business’s fifty day simple moving average is $865.39 and its 200-day simple moving average is $646.31. The company has a market capitalization of $2.22 trillion, a price-to-earnings ratio of 74.36, a PEG ratio of 1.19 and a beta of 1.75. NVIDIA Co. has a 12-month low of $272.40 and a 12-month high of $974.00.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the prior year, the business earned $0.65 EPS. The firm’s quarterly revenue was up 265.3% on a year-over-year basis. On average, equities research analysts anticipate 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. Stockholders of record on Wednesday, March 6th were given 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 presently 1.34%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Susquehanna reissued a “positive” rating and set a $1,050.00 price target on shares of NVIDIA in a report on Thursday, April 4th. UBS Group increased their price target on NVIDIA from $1,100.00 to $1,150.00 and gave the company a “buy” rating in a report on Tuesday. CICC Research assumed coverage on NVIDIA in a report on Wednesday, March 6th. They set an “outperform” rating and a $870.00 price target on the stock. Wolfe Research increased their price target on NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Finally, Truist Financial upped their price objective 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 investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $941.55.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John Dabiri sold 128 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction 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 quarter, insiders sold 61,278 shares of company stock valued at $52,689,898. Company 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.