Proffitt & Goodson Inc. Sells 340 Shares of NVIDIA Co. (NASDAQ:NVDA)

Proffitt & Goodson Inc. decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,049 shares of the computer hardware maker’s stock after selling 340 shares during the period. NVIDIA accounts for 0.5% of Proffitt & Goodson Inc.’s portfolio, making the stock its 27th largest position. Proffitt & Goodson Inc.’s holdings in NVIDIA were worth $2,827,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Legend Financial Advisors Inc. purchased a new position in NVIDIA during the fourth quarter valued at $34,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA during the fourth quarter valued at $40,000. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the 4th quarter worth about $46,000. 1620 Investment Advisors Inc. boosted its stake in NVIDIA by 145.9% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock worth $51,000 after purchasing an additional 248 shares in the last quarter. Finally, Gleason Group Inc. grew its position in NVIDIA by 52.9% during the 4th quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker’s stock valued at $58,000 after purchasing an additional 148 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NASDAQ NVDA opened at $94.31 on Friday. The business has a 50-day moving average price of $121.20 and a 200-day moving average price of $131.07. The firm has a market cap of $2.30 trillion, a price-to-earnings ratio of 37.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $195.95. 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 (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating 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. As a group, equities research analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio is currently 1.36%.

Insiders Place Their Bets

In other news, Director Aarti S. Shah sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now directly owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This represents a 27.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction on 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 transaction, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 183,609 shares of company stock worth $22,642,615 in the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NVDA. KeyCorp set a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Benchmark reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. DA Davidson reduced their target price on NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Wedbush reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, February 20th. Six research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $169.89.

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.