Traction Financial Partners LLC Trims Position in NVIDIA Co. (NASDAQ:NVDA)

Traction Financial Partners LLC decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,298 shares of the computer hardware maker’s stock after selling 182 shares during the quarter. NVIDIA comprises about 0.8% of Traction Financial Partners LLC’s investment portfolio, making the stock its 20th biggest position. Traction Financial Partners LLC’s holdings in NVIDIA were worth $980,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. AMF Tjanstepension AB grew its position in NVIDIA by 2.2% during the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock valued at $976,348,000 after acquiring an additional 169,445 shares during the period. Wealth Group Ltd. grew its stake in shares of NVIDIA by 5.0% during the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock valued at $680,000 after acquiring an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of NVIDIA by 0.3% during the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock valued at $14,650,000 after acquiring an additional 350 shares in the last quarter. Swedbank AB increased its holdings in NVIDIA by 4.8% during the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock worth $4,965,526,000 after purchasing an additional 1,868,358 shares during the last quarter. Finally, Well Done LLC raised its position in shares of NVIDIA by 4.0% in the 3rd quarter. Well Done LLC now owns 8,110 shares of the computer hardware maker’s stock valued at $985,000 after purchasing an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock valued at $22,117,015 in the last three months. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on NVDA. Wedbush reissued an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, February 20th. Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the stock an “overweight” rating in a report on Wednesday. Summit Insights downgraded NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Mizuho cut their target price on NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research note on Friday, March 14th. Finally, William Blair restated an “outperform” rating on shares of NVIDIA in a research report on Thursday. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Stock Performance

Shares of NVDA stock opened at $117.70 on Monday. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $153.13. The company has a market capitalization of $2.87 trillion, a price-to-earnings ratio of 46.32, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock’s fifty day simple moving average is $126.92 and its 200-day simple moving average is $131.36.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. On average, sell-side analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

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.