Welch & Forbes LLC Sells 156,680 Shares of NVIDIA Co. (NASDAQ:NVDA)

Welch & Forbes LLC cut its position in NVIDIA Co. (NASDAQ:NVDA) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,987,908 shares of the computer hardware maker’s stock after selling 156,680 shares during the quarter. NVIDIA makes up 6.9% of Welch & Forbes LLC’s investment portfolio, making the stock its biggest holding. Welch & Forbes LLC’s holdings in NVIDIA were worth $535,536,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NVDA. E Fund Management Co. Ltd. increased its stake in NVIDIA by 45.2% in the fourth quarter. E Fund Management Co. Ltd. now owns 885,764 shares of the computer hardware maker’s stock valued at $118,949,000 after purchasing an additional 275,898 shares during the period. Candriam S.C.A. grew its holdings in shares of NVIDIA by 0.5% during the fourth quarter. Candriam S.C.A. now owns 7,061,058 shares of the computer hardware maker’s stock worth $948,229,000 after buying an additional 35,684 shares during the last quarter. Chung Wu Investment Group LLC purchased a new position in shares of NVIDIA during the fourth quarter worth about $7,284,000. Vestmark Advisory Solutions Inc. increased its position in NVIDIA by 9.2% in the 4th quarter. Vestmark Advisory Solutions Inc. now owns 108,085 shares of the computer hardware maker’s stock valued at $14,515,000 after acquiring an additional 9,091 shares during the period. Finally, Blue Barn Wealth LLC raised its stake in NVIDIA by 43.8% during the 4th quarter. Blue Barn Wealth LLC now owns 9,303 shares of the computer hardware maker’s stock valued at $1,249,000 after acquiring an additional 2,835 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of NVIDIA 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 completion of the sale, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 147,147 shares of company stock worth $17,133,207. Insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on NVDA shares. Truist Financial boosted their target price on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 27th. HSBC lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research report on Thursday, April 3rd. Rosenblatt Securities restated a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. KeyCorp set a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Benchmark reissued a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $168.39.

NVIDIA Stock Up 3.1 %

Shares of NASDAQ:NVDA opened at $110.93 on Friday. The company has a market capitalization of $2.71 trillion, a P/E ratio of 43.66, a P/E/G ratio of 1.76 and a beta of 1.96. The stock’s fifty day simple moving average is $118.95 and its 200-day simple moving average is $130.36. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $195.95. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA’s payout ratio is currently 1.36%.

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.