Adapt Wealth Advisors LLC Trims Position in NVIDIA Co. (NASDAQ:NVDA)

Adapt Wealth Advisors LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,920 shares of the computer hardware maker’s stock after selling 620 shares during the period. Adapt Wealth Advisors LLC’s holdings in NVIDIA were worth $1,198,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. FMR LLC raised its holdings in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares in the last quarter. Geode Capital Management LLC raised its holdings in NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares in the last quarter. Norges Bank purchased a new position in NVIDIA during the fourth quarter worth about $43,515,504,000. Finally, Northern Trust Corp raised its holdings in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction on 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 transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. This represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 in the last quarter. 4.23% of the stock is owned by insiders.

NVIDIA Stock Up 0.8%

Shares of NVDA opened at $132.83 on Friday. The firm has a market cap of $3.25 trillion, a PE ratio of 52.27, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. The company’s fifty day moving average is $113.57 and its two-hundred day moving average is $126.99. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two 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 announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share 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%. Analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wedbush reissued an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday. Rosenblatt Securities dropped their target price on shares of NVIDIA from $220.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Seaport Res Ptn raised shares of NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. Susquehanna reaffirmed a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Benchmark reaffirmed a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $164.84.

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.