Spartan Planning & Wealth Management Sells 24,139 Shares of NVIDIA Co. (NASDAQ:NVDA)

Spartan Planning & Wealth Management decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 47.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,619 shares of the computer hardware maker’s stock after selling 24,139 shares during the quarter. NVIDIA comprises approximately 2.8% of Spartan Planning & Wealth Management’s holdings, making the stock its 14th largest position. Spartan Planning & Wealth Management’s holdings in NVIDIA were worth $2,885,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Tacita Capital Inc bought a new position in shares of NVIDIA during the 4th quarter worth about $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA during the fourth quarter worth about $38,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA during the fourth quarter worth about $40,000. Copia Wealth Management bought a new position in NVIDIA during the fourth quarter valued at about $50,000. Finally, LSV Asset Management acquired a new position in NVIDIA in the 4th quarter valued at approximately $54,000. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other news, 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 completion of the transaction, the insider now directly owns 479,428 shares in the company, valued at $55,997,190.40. This represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,255,320 shares of company stock valued at $172,680,419. Company insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

NVDA stock opened at $142.63 on Tuesday. 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 company has a 50 day moving average price of $119.10 and a 200 day moving average price of $126.11. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. The stock has a market capitalization of $3.48 trillion, a PE ratio of 56.13, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12.

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

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be given 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 of this dividend is Wednesday, June 11th. NVIDIA’s dividend payout ratio is currently 1.29%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. William Blair reissued an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Hsbc Global Res downgraded shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. UBS Group reissued a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. Finally, KeyCorp set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have given a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $171.66.

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.