NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Convergence Financial LLC

Convergence Financial LLC cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 75,313 shares of the computer hardware maker’s stock after selling 3,824 shares during the period. NVIDIA comprises approximately 2.0% of Convergence Financial LLC’s holdings, making the stock its 16th biggest position. Convergence Financial LLC’s holdings in NVIDIA were worth $10,114,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of NVDA. Capital Performance Advisors LLP boosted its position in NVIDIA by 59.3% during the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after purchasing an additional 9,944 shares during the period. Palisade Asset Management LLC lifted its stake in 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. SMART Wealth LLC boosted its holdings in shares of NVIDIA by 289.5% during the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock valued at $9,711,000 after acquiring an additional 53,747 shares during the period. Blue Square Asset Management LLC boosted its holdings in shares of NVIDIA by 26.7% during 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 acquiring an additional 10,136 shares during the period. Finally, Wealthspire Advisors LLC grew its position in shares of NVIDIA by 29.6% during the fourth quarter. Wealthspire Advisors LLC now owns 174,896 shares of the computer hardware maker’s stock worth $23,487,000 after acquiring an additional 39,944 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $110.42 on Thursday. The stock has a market cap of $2.69 trillion, a PE ratio of 43.46, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $195.95. The firm has a fifty day moving average price of $123.07 and a 200-day moving average price of $131.32. 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 posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. Equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s payout ratio is 1.36%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVDA. Bank of America reiterated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Summit Insights lowered NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Morgan Stanley set a $162.00 price target on NVIDIA and gave the company an “overweight” rating in a report on Wednesday, March 19th. HSBC reduced their price objective on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a report on Monday, January 13th. Finally, DA Davidson lowered their target price on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $171.51.

Insider Buying and Selling at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 sale, the insider now directly owns 479,428 shares of the company’s stock, valued at $55,997,190.40. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,609 shares of company stock worth $22,642,615 over the last quarter. Insiders own 4.23% of the company’s stock.

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.