Partnership Wealth Management LLC Lowers Position in NVIDIA Co. (NASDAQ:NVDA)

Partnership Wealth Management LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 2.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,554 shares of the computer hardware maker’s stock after selling 255 shares during the period. NVIDIA comprises 0.9% of Partnership Wealth Management LLC’s portfolio, making the stock its 27th largest holding. Partnership Wealth Management LLC’s holdings in NVIDIA were worth $1,035,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Tacita Capital Inc acquired a new position in NVIDIA during the fourth quarter worth about $28,000. Vision Financial Markets LLC purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $40,000. Copia Wealth Management purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $50,000. Finally, LSV Asset Management acquired a new position in NVIDIA during the fourth quarter worth approximately $54,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of several research analyst reports. TD Cowen upped their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, May 29th. Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 price target (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a research note on Thursday, April 3rd. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. Finally, Piper Sandler restated an “overweight” rating and issued a $180.00 price target (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $171.66.

NVIDIA Stock Up 0.6%

NVIDIA stock opened at $142.63 on Tuesday. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $195.95. The company’s 50-day moving average price is $119.10 and its two-hundred day moving average price is $126.11. The stock has a market cap of $3.48 trillion, a price-to-earnings ratio of 56.13, a PEG ratio of 1.76 and a beta of 2.12. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the firm earned $0.61 earnings per share. NVIDIA’s revenue was up 69.2% compared to the same quarter last year. On average, analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio is 1.29%.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s 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 in the company, valued at $55,997,190.40. This represents a 0.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 125,836 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $137.79, for a total transaction of $17,338,942.44. Following the transaction, the director now owns 10,149,697 shares in the company, valued at approximately $1,398,526,749.63. This trade represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,255,320 shares of company stock valued at $172,680,419 over the last quarter. 4.17% of the stock is owned by company insiders.

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.