Welch Group LLC Lowers Position in NVIDIA Co. (NASDAQ:NVDA)

Welch Group LLC lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 5.4% during the 4th quarter, HoldingsChannel reports. The firm owned 22,437 shares of the computer hardware maker’s stock after selling 1,290 shares during the quarter. Welch Group LLC’s holdings in NVIDIA were worth $11,111,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of NVDA. Norges Bank purchased a new stake in NVIDIA in the 4th quarter worth approximately $3,900,874,000. Moneta Group Investment Advisors LLC boosted its position in NVIDIA by 160,446.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock worth $2,862,392,000 after purchasing an additional 19,574,443 shares in the last quarter. Morgan Stanley boosted its position in NVIDIA by 20.2% in the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after purchasing an additional 4,621,002 shares in the last quarter. Barclays PLC boosted its position in NVIDIA by 55.7% in the 2nd quarter. Barclays PLC now owns 7,661,032 shares of the computer hardware maker’s stock worth $3,240,769,000 after purchasing an additional 2,740,850 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of NVIDIA by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after buying an additional 2,287,471 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 2.4 %

Shares of NASDAQ:NVDA opened at $880.08 on Monday. The business has a 50-day moving average price of $806.46 and a 200 day moving average price of $594.66. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.20 trillion, a price-to-earnings ratio of 73.71, a PEG ratio of 1.27 and a beta of 1.73. NVIDIA Co. has a 12-month low of $262.20 and a 12-month high of $974.00.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company’s quarterly revenue was up 265.3% on a year-over-year basis. During the same period last year, the company earned $0.65 EPS. Sell-side analysts expect that NVIDIA Co. will post 22.45 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio is currently 1.34%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Morgan Stanley increased their target price on NVIDIA from $750.00 to $795.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $910.00 target price on shares of NVIDIA in a research report on Wednesday, March 20th. Sanford C. Bernstein increased their target price on NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. KeyCorp reiterated an “overweight” rating and set a $1,100.00 target price on shares of NVIDIA in a research report on Tuesday, March 19th. Finally, Mizuho increased their target price on NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $908.68.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now directly owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other NVIDIA news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now directly owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 36,000 shares of NVIDIA stock in a transaction dated Friday, January 12th. The shares were sold at an average price of $546.95, for a total value of $19,690,200.00. Following the completion of the transaction, the director now owns 1,134,583 shares of the company’s stock, valued at approximately $620,560,171.85. The disclosure for this sale can be found here. Insiders sold a total of 110,226 shares of company stock valued at $71,759,148 in the last three months. 3.99% of the stock is owned by corporate insiders.

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.