Biondo Investment Advisors LLC Has $48.06 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Biondo Investment Advisors LLC cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 357,902 shares of the computer hardware maker’s stock after selling 16,953 shares during the quarter. NVIDIA accounts for about 6.6% of Biondo Investment Advisors LLC’s portfolio, making the stock its 3rd largest position. Biondo Investment Advisors LLC’s holdings in NVIDIA were worth $48,063,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Tacita Capital Inc acquired a new stake in shares of NVIDIA during the 4th quarter valued at $28,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the fourth quarter valued at about $34,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA during the fourth quarter valued at about $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA during the fourth quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $46,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Rosenblatt Securities reduced their target price on shares of NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a report on Wednesday. Truist Financial lifted their target price on NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Mizuho cut their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.96.

NVIDIA Trading Up 2.5 %

NASDAQ NVDA opened at $111.61 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The business has a fifty day simple moving average of $111.09 and a 200 day simple moving average of $128.31. NVIDIA Co. has a 12 month low of $83.20 and a 12 month high of $195.95. The firm has a market capitalization of $2.72 trillion, a P/E ratio of 43.92, a PEG ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. On average, analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In other news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This trade represents a 27.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is owned by insiders.

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.