NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,624 shares of the computer hardware maker’s stock after selling 1,456 shares during the period. NVIDIA makes up approximately 1.4% of Sheets Smith Wealth Management’s portfolio, making the stock its 13th largest position. Sheets Smith Wealth Management’s holdings in NVIDIA were worth $11,096,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Legal & General Group Plc lifted its stake in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in NVIDIA by 1,123.2% during the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after purchasing an additional 84,515,429 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in shares of NVIDIA by 12,898.6% in the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after acquiring an additional 55,859,917 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NVIDIA news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, 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 completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of several recent analyst reports. Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Mizuho raised their price target on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and set a $220.00 price objective on shares of NVIDIA in a research note on Wednesday, January 8th. Finally, Redburn Atlantic assumed coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target on the stock. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $166.23.

NVIDIA Stock Down 1.3 %

NVDA stock opened at $131.14 on Thursday. 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 Co. has a 12 month low of $66.25 and a 12 month high of $153.13. The firm has a market cap of $3.21 trillion, a PE ratio of 51.61, a P/E/G ratio of 1.62 and a beta of 1.62. The firm has a 50 day simple moving average of $135.06 and a 200 day simple moving average of $129.84.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the business earned $0.38 EPS. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

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.