Cerro Pacific Wealth Advisors LLC Lowers Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Cerro Pacific Wealth Advisors LLC lessened its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 3.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 90,917 shares of the computer hardware maker's stock after selling 3,133 shares during the period. NVIDIA comprises approximately 3.3% of Cerro Pacific Wealth Advisors LLC's holdings, making the stock its 5th biggest holding. Cerro Pacific Wealth Advisors LLC's holdings in NVIDIA were worth $9,854,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Regent Peak Wealth Advisors LLC boosted its stake in NVIDIA by 0.4% during the 4th quarter. Regent Peak Wealth Advisors LLC now owns 81,833 shares of the computer hardware maker's stock worth $10,989,000 after acquiring an additional 322 shares during the last quarter. Wealth Group Ltd. raised its holdings in NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock worth $766,000 after purchasing an additional 100 shares during the period. Tallon Kerry Patrick bought a new position in NVIDIA during the fourth quarter worth about $972,000. Capital & Planning LLC grew its position in shares of NVIDIA by 16.9% in the 4th quarter. Capital & Planning LLC now owns 7,604 shares of the computer hardware maker's stock valued at $1,021,000 after purchasing an additional 1,099 shares during the period. Finally, Ironwood Wealth Management LLC. raised its holdings in shares of NVIDIA by 1.6% during the fourth quarter. Ironwood Wealth Management LLC. now owns 6,483 shares of the computer hardware maker's stock worth $871,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Activity at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director now owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Aarti S. Shah sold 20,000 shares of the company's stock in a transaction dated 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 completion of the sale, the director now directly owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,560,845 shares of company stock worth $360,351,849 in the last 90 days. Company insiders own 4.17% of the company's stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research reports. Truist Financial increased their target price on NVIDIA from $205.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 29th. UBS Group reissued a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a report on Wednesday, February 26th. William Blair reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. Finally, Barclays reaffirmed an "overweight" rating and issued a $170.00 price objective (up from $155.00) on shares of NVIDIA in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $172.24.

NVIDIA Price Performance

Shares of NVDA stock traded up $1.57 during trading hours on Thursday, hitting $144.40. 82,386,490 shares of the company's stock were exchanged, compared to its average volume of 276,614,343. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $153.13. The business's 50 day simple moving average is $120.91 and its 200-day simple moving average is $126.34. The company has a market capitalization of $3.52 trillion, a PE ratio of 56.83, a PEG ratio of 1.76 and a beta of 2.12.

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

NVIDIA Announces Dividend

The firm 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 $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's payout ratio is presently 1.29%.

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.