IVC Wealth Advisors LLC Lowers Holdings in NVIDIA Co. (NASDAQ:NVDA)

IVC Wealth Advisors LLC decreased its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,977 shares of the computer hardware maker’s stock after selling 462 shares during the quarter. NVIDIA makes up 1.3% of IVC Wealth Advisors LLC’s holdings, making the stock its 15th largest position. IVC Wealth Advisors LLC’s holdings in NVIDIA were worth $2,490,000 as of its most recent filing with the Securities & Exchange Commission.

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

NVIDIA Trading Up 0.9%

NASDAQ:NVDA opened at $143.96 on Wednesday. The firm has a market cap of $3.51 trillion, a PE ratio of 56.65, a price-to-earnings-growth 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. The stock has a fifty day moving average price of $119.94 and a 200 day moving average price of $126.23. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly 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). The business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period last year, the firm earned $0.61 earnings per share. Sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued 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 is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is 1.29%.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director now owns 26,671,360 shares in the company, valued at approximately $3,808,670,208. The trade was a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $2,368,400.00. Following the sale, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This trade represents a 27.32% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,614,169 shares of company stock valued at $366,510,238 in the last ninety days. Insiders own 4.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on NVDA shares. William Blair reissued an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Barclays reaffirmed an “overweight” rating and issued a $170.00 price target (up previously from $155.00) on shares of NVIDIA in a report on Thursday, May 29th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a report on Thursday, May 29th. Finally, Bank of America increased 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have given a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently 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.