Lyell Wealth Management LP Cuts Stake in NVIDIA Co. (NASDAQ:NVDA)

Lyell Wealth Management LP trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 2.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 610,955 shares of the computer hardware maker’s stock after selling 16,881 shares during the period. NVIDIA makes up approximately 7.4% of Lyell Wealth Management LP’s portfolio, making the stock its biggest position. Lyell Wealth Management LP’s holdings in NVIDIA were worth $82,045,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NVDA. Joel Adams & Associates Inc. acquired a new position in shares of NVIDIA during the fourth quarter valued at about $267,000. Global Retirement Partners LLC boosted its stake in NVIDIA by 0.8% during the 4th quarter. Global Retirement Partners LLC now owns 504,252 shares of the computer hardware maker’s stock valued at $67,716,000 after purchasing an additional 3,777 shares during the last quarter. Cornerstone Advisors Asset Management LLC increased its holdings in NVIDIA by 251.8% during the 4th quarter. Cornerstone Advisors Asset Management LLC now owns 8,119 shares of the computer hardware maker’s stock worth $1,090,000 after purchasing an additional 5,811 shares in the last quarter. Convergence Investment Partners LLC raised its stake in shares of NVIDIA by 32.9% in the fourth quarter. Convergence Investment Partners LLC now owns 114,279 shares of the computer hardware maker’s stock worth $15,347,000 after purchasing an additional 28,318 shares during the last quarter. Finally, SilverOak Wealth Management LLC lifted its holdings in shares of NVIDIA by 1.8% in the fourth quarter. SilverOak Wealth Management LLC now owns 9,930 shares of the computer hardware maker’s stock valued at $1,334,000 after purchasing an additional 180 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated 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 directly owns 3,902,888 shares of the company’s stock, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. 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 sale, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 179,109 shares of company stock valued at $22,117,015 over the last quarter. 4.23% of the stock is owned by corporate insiders.

NVIDIA Price Performance

NVDA stock opened at $121.41 on Tuesday. The firm has a 50 day simple moving average of $126.68 and a two-hundred day simple moving average of $131.46. The stock has a market cap of $2.96 trillion, a PE ratio of 47.78, a P/E/G ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a one year low of $75.61 and a one year high of $153.13. 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 announced 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. 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 analyst estimates of $38.16 billion. On average, analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is 1.36%.

Analyst Ratings Changes

A number of research firms recently commented on NVDA. Bank of America reissued a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Mizuho dropped their price target on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. 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 research report on Monday, January 13th. William Blair reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus 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.