Summit Place Financial Advisors LLC Sells 3,366 Shares of NVIDIA Co. (NASDAQ:NVDA)

Summit Place Financial Advisors LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,025 shares of the computer hardware maker’s stock after selling 3,366 shares during the period. NVIDIA comprises approximately 4.3% of Summit Place Financial Advisors LLC’s holdings, making the stock its 2nd largest holding. Summit Place Financial Advisors LLC’s holdings in NVIDIA were worth $7,524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA during the fourth quarter worth approximately $34,000. Luken Investment Analytics LLC bought a new stake in NVIDIA during the 4th quarter worth approximately $40,000. DHJJ Financial Advisors Ltd. grew its position in NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 shares during the last quarter. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA during the 4th quarter valued at $46,000. Finally, 1620 Investment Advisors Inc. raised its position in NVIDIA by 145.9% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after purchasing an additional 248 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $121.41 on Tuesday. The business has a 50-day moving average of $126.68 and a 200-day moving average of $131.46. 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 $2.96 trillion, a price-to-earnings ratio of 47.78, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Activity

In other news, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were 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 in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 179,109 shares of company stock worth $22,117,015 in the last three months. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research reports. Benchmark restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Susquehanna reissued a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. DA Davidson reduced their price objective on NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. HSBC lowered their target price on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Finally, Needham & Company LLC reissued a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Four research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

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.