Welch Group LLC Sells 3,370 Shares of NVIDIA Co. (NASDAQ:NVDA)

Welch Group LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 1.8% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 179,394 shares of the computer hardware maker's stock after selling 3,370 shares during the quarter. Welch Group LLC's holdings in NVIDIA were worth $19,674,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NVDA. DiNuzzo Private Wealth Inc. boosted its position in 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 purchasing an additional 71 shares during the period. Baker Boyer National Bank lifted its stake in shares of NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after purchasing an additional 76 shares in the last quarter. SC&H Financial Advisors Inc. boosted its position in shares of NVIDIA by 1.6% in the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock worth $681,000 after buying an additional 80 shares during the period. DecisionPoint Financial LLC raised its holdings in shares of NVIDIA by 2.9% during the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock valued at $386,000 after buying an additional 80 shares during the period. Finally, Matthew Goff Investment Advisor LLC lifted its position in NVIDIA by 0.7% during the 4th quarter. Matthew Goff Investment Advisor LLC now owns 11,496 shares of the computer hardware maker's stock worth $1,544,000 after acquiring an additional 84 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of analyst reports. DA Davidson upped their price objective on shares of NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Thursday, May 29th. Barclays reissued an "overweight" rating and issued a $170.00 price target (up previously from $155.00) on shares of NVIDIA in a report on Thursday, May 29th. Raymond James lifted their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a "strong-buy" rating in a report on Thursday, May 29th. Benchmark reaffirmed a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Finally, Arete Research raised shares of NVIDIA to a "strong-buy" rating in a research report on Wednesday, May 21st. One research 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 issued a strong buy rating to the company. According to MarketBeat, NVIDIA has an average rating of "Moderate Buy" and a consensus target price of $171.66.

Insider Activity

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares of the company's stock, valued at $28,993,071.56. This trade represents a 17.52% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 125,836 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $137.79, for a total transaction of $17,338,942.44. Following the completion of the transaction, the director now directly owns 10,149,697 shares in the company, valued at $1,398,526,749.63. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,255,320 shares of company stock worth $172,680,419 over the last quarter. Corporate insiders own 4.17% of the company's stock.

NVIDIA Price Performance

NASDAQ:NVDA traded up $1.33 during trading hours on Tuesday, reaching $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 company has a market capitalization of $3.51 trillion, a P/E ratio of 56.65, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. 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 $119.10 and its two-hundred day simple moving average is $126.11.

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

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders 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 (DPR) is currently 1.29%.

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.