Sara Bay Financial Sells 3,854 Shares of NVIDIA Co. (NASDAQ:NVDA)

Sara Bay Financial decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 353,747 shares of the computer hardware maker’s stock after selling 3,854 shares during the quarter. NVIDIA comprises about 18.0% of Sara Bay Financial’s portfolio, making the stock its 2nd biggest position. Sara Bay Financial’s holdings in NVIDIA were worth $48,637,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in shares of NVIDIA during the second quarter valued at $27,000. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the third quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA in the second quarter worth about $31,000. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA during the fourth quarter worth about $34,000. Finally, West Financial Advisors LLC purchased a new stake in NVIDIA in the third quarter valued at approximately $36,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Up 3.1 %

NVDA stock opened at $128.68 on Friday. The company has a market cap of $3.15 trillion, a price-to-earnings ratio of 50.64, a PEG ratio of 2.16 and a beta of 1.62. The firm has a 50-day moving average of $135.62 and a two-hundred day moving average of $129.35. NVIDIA Co. has a 12 month low of $66.25 and a 12 month high of $153.13. 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 announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 earnings per share. As a group, analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued 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 was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Barclays raised their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Robert W. Baird boosted their target price on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Loop Capital reaffirmed a “buy” rating and set a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Wells Fargo & Company lifted their price objective on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Stifel Nicolaus raised their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $166.23.

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.