Cahaba Wealth Management Inc. Sells 1,067 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cahaba Wealth Management Inc. cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 26.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,032 shares of the computer hardware maker's stock after selling 1,067 shares during the period. NVIDIA makes up 0.2% of Cahaba Wealth Management Inc.'s holdings, making the stock its 28th biggest holding. Cahaba Wealth Management Inc.'s holdings in NVIDIA were worth $2,739,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Moody Lynn & Lieberson LLC grew its position in NVIDIA by 7.2% in the 3rd quarter. Moody Lynn & Lieberson LLC now owns 89,053 shares of the computer hardware maker's stock worth $38,737,000 after purchasing an additional 5,998 shares in the last quarter. TrueMark Investments LLC bought a new stake in NVIDIA in the 4th quarter worth about $2,639,000. McLean Asset Management Corp grew its position in NVIDIA by 11.7% in the 4th quarter. McLean Asset Management Corp now owns 1,773 shares of the computer hardware maker's stock worth $871,000 after purchasing an additional 186 shares in the last quarter. Cornercap Investment Counsel Inc. grew its position in NVIDIA by 5.7% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 3,900 shares of the computer hardware maker's stock worth $1,931,000 after purchasing an additional 209 shares in the last quarter. Finally, Shilanski & Associates Inc. grew its position in NVIDIA by 15.9% in the 4th quarter. Shilanski & Associates Inc. now owns 2,983 shares of the computer hardware maker's stock worth $1,477,000 after purchasing an additional 410 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVDA. Argus upped their price objective on shares of NVIDIA from $850.00 to $950.00 and gave the stock a "buy" rating in a research report on Wednesday, March 20th. Morgan Stanley upped their price objective on shares of NVIDIA from $795.00 to $1,000.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 10th. Mizuho boosted their target price on shares of NVIDIA from $850.00 to $1,000.00 and gave the company a "buy" rating in a research note on Thursday, March 7th. KeyCorp boosted their target price on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the company an "overweight" rating in a research note on Monday, April 8th. Finally, Sanford C. Bernstein boosted their target price on shares of NVIDIA from $700.00 to $1,000.00 and gave the company an "outperform" rating in a research note on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $941.55.

NVIDIA Price Performance

Shares of NASDAQ:NVDA traded down $13.55 during trading on Tuesday, reaching $864.02. The company had a trading volume of 36,070,525 shares, compared to its average volume of 51,807,828. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. NVIDIA Co. has a 12 month low of $272.40 and a 12 month high of $974.00. The company has a fifty day moving average of $860.82 and a two-hundred day moving average of $643.52. The stock has a market capitalization of $2.16 trillion, a P/E ratio of 72.36, a price-to-earnings-growth ratio of 1.26 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the firm earned $0.65 EPS. The firm's quarterly revenue was up 265.3% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA's dividend payout ratio is currently 1.34%.

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 128 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now owns 2,055 shares of the company's stock, valued at approximately $1,931,700. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares of the company's stock, valued at approximately $896,933,663.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 128 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the sale, the director now directly owns 2,055 shares of the company's stock, valued at approximately $1,931,700. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,278 shares of company stock valued at $52,689,898. Insiders own 3.99% of the company's stock.

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.

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