Heritage Wealth Management Inc. Decreases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Heritage Wealth Management Inc. reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,643 shares of the computer hardware maker’s stock after selling 225 shares during the quarter. NVIDIA accounts for approximately 0.9% of Heritage Wealth Management Inc.’s portfolio, making the stock its 19th largest holding. Heritage Wealth Management Inc.’s holdings in NVIDIA were worth $2,772,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in NVDA. AMF Tjanstepension AB boosted its position in shares of NVIDIA by 2.2% in the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after buying an additional 169,445 shares in the last quarter. Wealth Group Ltd. raised its position in NVIDIA by 5.0% during the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after acquiring an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. lifted its holdings in shares of NVIDIA by 0.3% in 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 purchasing an additional 350 shares in the last quarter. Swedbank AB grew its position in shares of NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares during the last quarter. Finally, Horizon Bancorp Inc. IN increased its stake in shares of NVIDIA by 10.9% during the 3rd quarter. Horizon Bancorp Inc. IN now owns 10,330 shares of the computer hardware maker’s stock worth $1,254,000 after purchasing an additional 1,018 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 7.4 %

NASDAQ NVDA opened at $94.31 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $195.95. The business has a 50 day moving average price of $121.20 and a two-hundred day moving average price of $131.07. The stock has a market cap of $2.30 trillion, a PE ratio of 37.12, a P/E/G ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last announced 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 business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. As a group, sell-side analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 183,609 shares of company stock worth $22,642,615. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. William Blair reiterated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Bank of America reissued a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Finally, Barclays upped their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Six research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $169.89.

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.