NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Evercore Wealth Management LLC

Evercore Wealth Management LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,362,556 shares of the computer hardware maker’s stock after selling 40,227 shares during the period. NVIDIA comprises approximately 4.8% of Evercore Wealth Management LLC’s holdings, making the stock its 3rd largest holding. Evercore Wealth Management LLC’s holdings in NVIDIA were worth $317,268,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction dated 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 transaction, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. The trade was a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,147 shares of company stock worth $17,133,207. Corporate insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NVDA. Bank of America raised their price target on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Barclays dropped their price target on NVIDIA from $175.00 to $155.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Wedbush reaffirmed an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Citigroup reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, April 16th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of NVIDIA in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.84.

NVIDIA Stock Performance

NVDA stock opened at $135.40 on Monday. The business’s 50-day moving average price is $112.33 and its two-hundred day moving average price is $126.93. 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 firm has a market cap of $3.31 trillion, a PE ratio of 53.29, a P/E/G ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95.

NVIDIA (NASDAQ:NVDA) last posted its 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. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced 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. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.36%.

NVIDIA 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.