NVIDIA Co. (NASDAQ:NVDA) Stake Cut by Cannon Wealth Management Services LLC

Cannon Wealth Management Services LLC decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,190 shares of the computer hardware maker’s stock after selling 524 shares during the period. NVIDIA comprises about 0.9% of Cannon Wealth Management Services LLC’s portfolio, making the stock its 24th largest holding. Cannon Wealth Management Services LLC’s holdings in NVIDIA were worth $1,100,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Hoertkorn Richard Charles lifted its holdings in NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after acquiring an additional 70 shares during the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after purchasing an additional 71 shares in the last quarter. Smart Portfolios LLC lifted its stake in NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after purchasing an additional 75 shares during the last quarter. Palisade Asset Management LLC boosted its holdings in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after buying an additional 75 shares in the last quarter. Finally, Baker Boyer National Bank grew its position in NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after buying an additional 76 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 183,609 shares of company stock valued at $22,642,615. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $109.67 on Monday. The stock has a market capitalization of $2.68 trillion, a P/E ratio of 43.16, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $195.95. The firm has a 50 day moving average of $125.01 and a 200-day moving average of $131.61. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s payout ratio is presently 1.36%.

Analyst Ratings Changes

NVDA has been the subject of a number of recent research reports. HSBC cut their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Benchmark reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Summit Insights lowered NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Susquehanna reiterated a “positive” rating and set a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

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.