April 14, 2024

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Financial Management Professionals Inc. Cuts Stock Position in NVIDIA Co. (NASDAQ:NVDA)


Financial Management Professionals Inc. lowered its position in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 19.1% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,430 shares of the computer hardware maker’s stock after selling 575 shares during the quarter. Financial Management Professionals Inc.’s holdings in NVIDIA were worth $1,204,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Peoples Financial Services CORP. purchased a new stake in NVIDIA during the 3rd quarter worth approximately $30,000. Your Advocates Ltd. LLP purchased a new stake in NVIDIA during the 3rd quarter worth approximately $30,000. Quarry LP purchased a new stake in NVIDIA during the 1st quarter worth approximately $34,000. Compass Wealth Management LLC purchased a new stake in NVIDIA during the 4th quarter worth approximately $39,000. Finally, Trivant Custom Portfolio Group LLC grew its position in NVIDIA by 44.1% during the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock worth $43,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 64.79% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $942.89 on Friday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. NVIDIA Co. has a 52-week low of $258.50 and a 52-week high of $974.00. The company has a fifty day simple moving average of $743.67 and a 200-day simple moving average of $561.46. The firm has a market capitalization of $2.36 trillion, a price-to-earnings ratio of 78.97, a PEG ratio of 1.36 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the prior year, the firm posted $0.65 earnings per share. NVIDIA’s quarterly revenue was up 265.3% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Co. will post 22.4 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th will be issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date of this dividend is Tuesday, March 5th. NVIDIA’s dividend payout ratio is currently 1.34%.

Wall Street Analyst Weigh In

Several analysts have weighed in on NVDA shares. Cantor Fitzgerald reissued an “overweight” rating and set a $900.00 target price on shares of NVIDIA in a research report on Monday, March 4th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of NVIDIA from $720.00 to $850.00 and gave the stock a “hold” rating in a research report on Wednesday. Piper Sandler Companies upped their price objective on shares of NVIDIA to $850.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Argus upped their price objective on shares of NVIDIA from $850.00 to $950.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Loop Capital started coverage on shares of NVIDIA in a report on Friday, February 16th. They issued a “buy” rating and a $1,200.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $908.68.

View Our Latest Analysis on NVDA

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $484.62, for a total value of $218,079.00. Following the completion of the sale, the insider now owns 50,961 shares of the company’s stock, valued at $24,696,719.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 35,648 shares of the stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $542.93, for a total transaction of $19,354,368.64. Following the completion of the transaction, the director now owns 1,189,083 shares of the company’s stock, valued at $645,588,833.19. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $484.62, for a total transaction of $218,079.00. Following the transaction, the insider now directly owns 50,961 shares of the company’s stock, valued at approximately $24,696,719.82. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,774 shares of company stock valued at $64,322,528. 3.99% of the stock is owned by company insiders.

About NVIDIA

(Free Report)

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)



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