Spartan Planning & Wealth Management Has $2.89 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Spartan Planning & Wealth Management trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 47.6% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 26,619 shares of the computer hardware maker's stock after selling 24,139 shares during the quarter. NVIDIA accounts for 2.8% of Spartan Planning & Wealth Management's holdings, making the stock its 14th biggest position. Spartan Planning & Wealth Management's holdings in NVIDIA were worth $2,885,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC boosted its position in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the last quarter. Norges Bank bought a new position in NVIDIA in the fourth quarter valued at $43,515,504,000. Finally, Northern Trust Corp increased its stake in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the firm's stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares of the company's stock, valued at $28,993,071.56. This trade represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,255,320 shares of company stock worth $172,680,419 over the last three months. Corporate insiders own 4.17% of the company's stock.

NVIDIA Stock Performance

Shares of NVDA traded up $1.33 during mid-day trading on Tuesday, hitting $143.96. 154,969,369 shares of the company's stock were exchanged, compared to its average volume of 273,132,656. 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 firm has a market cap of $3.51 trillion, a price-to-earnings ratio of 56.65, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. The stock's 50-day simple moving average is $119.10 and its 200-day simple moving average is $126.11. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $153.13.

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

NVIDIA Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley restated an "overweight" rating and set a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Raymond James boosted their price target on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a research report on Thursday, May 29th. Wedbush reissued an "outperform" rating on shares of NVIDIA in a report on Thursday, May 29th. Finally, Benchmark reissued a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and an average price target of $171.66.

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.