Index Fund Advisors Inc. Sells 3,944 Shares of NVIDIA Co. (NASDAQ:NVDA)

Index Fund Advisors Inc. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 49.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,007 shares of the computer hardware maker’s stock after selling 3,944 shares during the period. Index Fund Advisors Inc.’s holdings in NVIDIA were worth $538,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Hoertkorn Richard Charles raised its stake in shares of NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after buying an additional 70 shares during the period. DiNuzzo Private Wealth Inc. raised its stake in shares of NVIDIA by 0.8% during the 4th 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 during the period. Smart Portfolios LLC raised its stake in shares of NVIDIA by 2.7% during the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after buying an additional 75 shares during the period. Palisade Asset Management LLC raised its stake 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 worth $1,866,000 after buying an additional 75 shares during the period. Finally, Baker Boyer National Bank raised its stake in shares of NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after buying an additional 76 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVDA opened at $121.67 on Friday. The stock’s 50-day moving average price is $129.26 and its 200 day moving average price is $131.17. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.97 trillion, a price-to-earnings ratio of 47.88, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,039,125 shares of company stock valued at $137,062,338 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NVDA. Mizuho dropped their price target on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday. Truist Financial boosted their price target on NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Wedbush reiterated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, February 20th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price target on shares of NVIDIA in a research report on Thursday, February 27th. Finally, Summit Insights cut NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Four research 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $171.51.

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.