LMG Wealth Partners LLC Sells 2,543 Shares of NVIDIA Co. (NASDAQ:NVDA)

LMG Wealth Partners LLC decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 30.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,706 shares of the computer hardware maker’s stock after selling 2,543 shares during the quarter. LMG Wealth Partners LLC’s holdings in NVIDIA were worth $766,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Hoertkorn Richard Charles grew its position in NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after purchasing an additional 70 shares during the period. DiNuzzo Private Wealth Inc. increased its position in NVIDIA by 0.8% in the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after buying an additional 71 shares in the last quarter. Smart Portfolios LLC increased its holdings in NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after acquiring an additional 75 shares in the last quarter. Palisade Asset Management LLC raised its position in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after purchasing an additional 75 shares during the period. Finally, Baker Boyer National Bank raised its holdings in NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after acquiring an additional 76 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 183,609 shares of company stock valued at $22,642,615. 4.23% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NVDA. DA Davidson reduced their price objective on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. KeyCorp set a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. William Blair restated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Finally, Truist Financial upped their target price on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $120.69 on Wednesday. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $153.13. 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 company’s fifty day moving average price is $126.46 and its 200 day moving average price is $131.58. The company has a market capitalization of $2.94 trillion, a PE ratio of 47.50, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current 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 issued 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 payout ratio is currently 1.36%.

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.