Wealth Effects LLC Lowers Position in NVIDIA Co. (NASDAQ:NVDA)

Wealth Effects LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,083 shares of the computer hardware maker's stock after selling 2,663 shares during the quarter. NVIDIA makes up approximately 7.4% of Wealth Effects LLC's portfolio, making the stock its 2nd largest holding. Wealth Effects LLC's holdings in NVIDIA were worth $19,953,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NVDA. Crescent Sterling Ltd. grew its holdings in NVIDIA by 36.3% during the first quarter. Crescent Sterling Ltd. now owns 631 shares of the computer hardware maker's stock valued at $570,000 after purchasing an additional 168 shares during the period. Sutton Place Investors LLC bought a new position in shares of NVIDIA during the 1st quarter worth $647,000. Pacific Sage Partners LLC increased its holdings in NVIDIA by 12.5% in the 1st quarter. Pacific Sage Partners LLC now owns 1,515 shares of the computer hardware maker's stock worth $1,369,000 after acquiring an additional 168 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in NVIDIA by 63.4% in the 1st quarter. Strategic Financial Concepts LLC now owns 4,351 shares of the computer hardware maker's stock valued at $3,932,000 after acquiring an additional 1,688 shares during the period. Finally, Confluence Wealth Services Inc. boosted its position in NVIDIA by 12.2% during the first quarter. Confluence Wealth Services Inc. now owns 5,986 shares of the computer hardware maker's stock worth $5,408,000 after purchasing an additional 650 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Ratings Changes

A number of research firms recently weighed in on NVDA. Sanford C. Bernstein lifted their price objective 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. The Goldman Sachs Group lifted their target price on NVIDIA from $875.00 to $1,000.00 and gave the company a "buy" rating in a report on Wednesday, March 20th. Benchmark restated a "buy" rating and issued a $1,000.00 price objective on shares of NVIDIA in a research report on Wednesday, March 20th. Susquehanna reiterated a "positive" rating and issued a $1,050.00 target price on shares of NVIDIA in a research note on Thursday, April 4th. Finally, Piper Sandler Companies boosted their price target on shares of NVIDIA to $850.00 and gave the company an "overweight" rating in a research report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $941.55.

NVIDIA Trading Up 3.5 %

NASDAQ:NVDA traded up $29.72 during midday trading on Friday, reaching $887.89. 39,834,072 shares of the stock traded hands, compared to its average volume of 46,607,020. The company has a fifty day moving average of $867.38 and a 200 day moving average of $649.27. NVIDIA Co. has a 12 month low of $272.40 and a 12 month high of $974.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The stock has a market capitalization of $2.22 trillion, a P/E ratio of 74.36, a PEG ratio of 1.23 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $20.40 billion. During the same period in the prior year, the business posted $0.65 EPS. The firm's revenue was up 265.3% compared to the same quarter last year. On average, research analysts predict that NVIDIA Co. will post 22.55 EPS for the current year.

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the transaction, the director now directly owns 1,119,583 shares of the company's stock, valued at approximately $896,494,891.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the business's stock in a transaction on Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the transaction, the director now directly owns 1,119,583 shares of the company's stock, valued at approximately $896,494,891.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the business's stock in a transaction on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the transaction, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is currently owned by company insiders.

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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