NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Sterling Group Wealth Management LLC

Sterling Group Wealth Management LLC cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 22.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 2,606 shares of the computer hardware maker’s stock after selling 747 shares during the period. Sterling Group Wealth Management LLC’s holdings in NVIDIA were worth $350,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. raised its stake in NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after purchasing an additional 107,169 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of NVIDIA by 683.9% during the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after buying an additional 208,362 shares in the last quarter. Palisade Asset Management LLC raised its position in shares of NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after buying an additional 75 shares during the last quarter. Blue Square Asset Management LLC raised its position in shares of NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after buying an additional 10,136 shares during the last quarter. Finally, Narwhal Capital Management lifted its stake in shares of NVIDIA by 5.1% in the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after buying an additional 26,373 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVDA opened at $138.85 on Friday. NVIDIA Co. has a 1 year low of $66.25 and a 1 year high of $153.13. The stock has a market capitalization of $3.40 trillion, a PE ratio of 54.64, a PEG ratio of 1.62 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a 50-day simple moving average of $134.52 and a 200-day simple moving average of $130.07.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $33.15 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The firm’s quarterly revenue was up 93.6% on a year-over-year basis. On average, analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Analyst Ratings Changes

NVDA has been the subject of a number of recent research reports. Barclays increased their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Tigress Financial raised NVIDIA from a “buy” rating to a “strong-buy” rating and boosted their price objective for the stock from $170.00 to $220.00 in a research note on Tuesday, January 28th. Piper Sandler raised their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Citigroup boosted their price target on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $166.23.

Insider Activity at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated 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 directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 over the last quarter. 4.23% of the stock is owned by insiders.

About NVIDIA

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.