Cahaba Wealth Management Inc. Sells 2,089 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cahaba Wealth Management Inc. reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,350 shares of the computer hardware maker’s stock after selling 2,089 shares during the quarter. NVIDIA accounts for approximately 0.3% of Cahaba Wealth Management Inc.’s portfolio, making the stock its 25th largest holding. Cahaba Wealth Management Inc.’s holdings in NVIDIA were worth $3,404,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Tacita Capital Inc bought a new stake in shares of NVIDIA in the fourth quarter worth about $28,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the fourth quarter worth about $34,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA in the fourth quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the fourth quarter worth about $46,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Up 5.4%

NVDA stock opened at $123.00 on Tuesday. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95. The business has a fifty day moving average price of $110.40 and a 200-day moving average price of $127.06. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market capitalization of $3.01 trillion, a P/E ratio of 48.41, a P/E/G ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. Equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NVDA shares. Benchmark reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Rosenblatt Securities cut their target price on NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. KeyCorp set a $190.00 target price on NVIDIA in a research note on Wednesday, March 19th. Summit Insights cut NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Stifel Nicolaus set a $180.00 target price on NVIDIA in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $164.84.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction on 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 completion of the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This 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 can be accessed through the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. This trade represents a 27.32% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,147 shares of company stock worth $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.