Bare Financial Services Inc Decreases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Bare Financial Services Inc reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,498 shares of the computer hardware maker’s stock after selling 302 shares during the period. Bare Financial Services Inc’s holdings in NVIDIA were worth $335,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Tacita Capital Inc purchased a new position in shares of NVIDIA during the 4th quarter worth approximately $28,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA in the 4th quarter valued at approximately $34,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the fourth quarter worth $40,000. Finally, Lowe Wealth Advisors LLC bought a new position in NVIDIA in the fourth quarter worth $46,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Down 6.9 %

Shares of NVDA stock opened at $104.49 on Thursday. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $195.95. The firm has a fifty day moving average price of $117.83 and a 200-day moving average price of $130.03. The company has a market cap of $2.55 trillion, a price-to-earnings ratio of 41.12, a PEG ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results 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 business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. As a group, equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 over the last three months. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NVDA. Piper Sandler reduced their target price on shares of NVIDIA from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday. Susquehanna restated a “positive” rating and issued a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a research note on Thursday, April 3rd. Barclays boosted their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $165.64.

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.