Jacobi Capital Management LLC Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Jacobi Capital Management LLC lessened its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 84,696 shares of the computer hardware maker's stock after selling 2,903 shares during the period. NVIDIA makes up about 0.8% of Jacobi Capital Management LLC's holdings, making the stock its 14th biggest position. Jacobi Capital Management LLC's holdings in NVIDIA were worth $11,374,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the fourth quarter worth $34,000. Luken Investment Analytics LLC bought a new position in NVIDIA in the 4th quarter worth about $40,000. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the 4th quarter valued at about $46,000. 1620 Investment Advisors Inc. boosted its position in shares of NVIDIA by 145.9% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker's stock valued at $51,000 after acquiring an additional 248 shares during the last quarter. Finally, Gleason Group Inc. grew its holdings in shares of NVIDIA by 52.9% during 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 in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Up 18.7 %

Shares of NASDAQ:NVDA traded up $18.03 during midday trading on Wednesday, reaching $114.33. The company's stock had a trading volume of 608,397,604 shares, compared to its average volume of 315,202,076. 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 50 day moving average of $119.29 and a 200-day moving average of $130.54. The firm has a market capitalization of $2.79 trillion, a P/E ratio of 44.99, a PEG ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analysts' expectations of $38.16 billion. On average, research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the transaction, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now directly owns 17,279 shares of the company's stock, valued at $1,900,690. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of recent analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $220.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Mizuho lowered their price objective 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. Benchmark reiterated a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Truist Financial raised their price target on NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $160.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $169.01.

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.