Taylor & Morgan Wealth Management LLC Trims Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Taylor & Morgan Wealth Management LLC cut its position in NVIDIA Co. (NASDAQ:NVDA) by 10.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,744 shares of the computer hardware maker’s stock after selling 3,039 shares during the period. NVIDIA makes up 2.5% of Taylor & Morgan Wealth Management LLC’s holdings, making the stock its 11th largest position. Taylor & Morgan Wealth Management LLC’s holdings in NVIDIA were worth $3,591,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Ironwood Wealth Management LLC. lifted its stake in shares of NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after purchasing an additional 5,695 shares during the period. Financial Guidance Group Inc. raised its holdings in NVIDIA by 900.0% in the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after purchasing an additional 3,240 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the second quarter worth approximately $31,000. Pinnacle West Asset Management Inc. grew its holdings in NVIDIA by 894.2% in the second quarter. Pinnacle West Asset Management Inc. now owns 34,250 shares of the computer hardware maker’s stock valued at $4,231,000 after purchasing an additional 30,805 shares during the period. Finally, Ballentine Partners LLC raised its stake in shares of NVIDIA by 1,002.0% during the 2nd quarter. Ballentine Partners LLC now owns 425,124 shares of the computer hardware maker’s stock worth $52,520,000 after buying an additional 386,546 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % 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 hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on NVDA shares. Oppenheimer reaffirmed an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Benchmark reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Tuesday, January 7th. Wedbush lifted their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Wells Fargo & Company boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, Piper Sandler upped their price objective on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $166.23.

NVIDIA Stock Up 0.9 %

Shares of NASDAQ:NVDA opened at $129.84 on Friday. The company’s fifty day moving average is $135.48 and its 200-day moving average is $129.35. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52 week low of $66.25 and a 52 week high of $153.13. The company has a market capitalization of $3.18 trillion, a PE ratio of 51.10, a P/E/G ratio of 2.16 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the company earned $0.38 EPS. NVIDIA’s revenue was up 93.6% on a year-over-year basis. Equities research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

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.