Malaga Cove Capital LLC Sells 3,226 Shares of NVIDIA Co. (NASDAQ:NVDA)

Malaga Cove Capital LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,558 shares of the computer hardware maker's stock after selling 3,226 shares during the period. NVIDIA accounts for approximately 1.2% of Malaga Cove Capital LLC's investment portfolio, making the stock its 22nd biggest position. Malaga Cove Capital LLC's holdings in NVIDIA were worth $3,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Tacita Capital Inc bought a new stake in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA in the 4th quarter valued at $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA during the 4th quarter valued at $40,000. LSV Asset Management acquired a new stake in shares of NVIDIA during the 4th quarter worth $54,000. Finally, Gleason Group Inc. increased its position in shares of NVIDIA by 52.9% in the fourth quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker's stock worth $58,000 after purchasing an additional 148 shares during the period. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Down 3.5%

NVDA traded down $4.91 during trading on Friday, reaching $134.28. 332,224,842 shares of the stock traded hands, compared to its average volume of 286,589,569. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock's 50-day moving average is $115.20 and its 200 day moving average is $126.61. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95. The stock has a market capitalization of $3.28 trillion, a PE ratio of 52.85, a P/E/G ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the previous year, the company earned $0.61 EPS. The firm's revenue for the quarter was up 69.2% on a year-over-year basis. Equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio is presently 1.29%.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the business's stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. This represents a 17.52% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last three months. Company insiders own 4.17% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Bank of America upped their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, May 14th. Rosenblatt Securities upped their price target on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday. Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Arete Research upgraded NVIDIA to a "strong-buy" rating in a research note on Wednesday, May 21st. Finally, Piper Sandler restated an "overweight" rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research report on Wednesday. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $171.66.

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.