CIBC Private Wealth Group LLC Sells 565,161 Shares of NVIDIA Co. (NASDAQ:NVDA)

CIBC Private Wealth Group LLC decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 4.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,470,218 shares of the computer hardware maker's stock after selling 565,161 shares during the period. NVIDIA comprises approximately 3.4% of CIBC Private Wealth Group LLC's investment portfolio, making the stock its 4th largest holding. CIBC Private Wealth Group LLC owned approximately 0.06% of NVIDIA worth $1,887,312,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Tacita Capital Inc acquired a new position in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the fourth quarter worth approximately $34,000. Vision Financial Markets LLC purchased a new position in NVIDIA in the 4th quarter valued at $38,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA during the 4th quarter worth $40,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the fourth quarter worth $46,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA traded up $2.89 during trading on Friday, reaching $114.50. The company had a trading volume of 189,662,858 shares, compared to its average volume of 300,818,875. The stock has a 50-day moving average price of $110.85 and a two-hundred day moving average price of $128.19. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $195.95. The stock has a market capitalization of $2.79 trillion, a PE ratio of 45.06, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, sell-side analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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 dividend yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio is presently 1.36%.

Insider Activity

In related news, Director Robert K. Burgess sold 53,324 shares of NVIDIA 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 completion of the transaction, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 sale, the insider now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NVDA shares. Rosenblatt Securities lowered their price target on shares of NVIDIA from $220.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. William Blair reaffirmed an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. Raymond James restated a "strong-buy" rating on shares of NVIDIA in a report on Wednesday, April 16th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a report on Friday, April 25th. Finally, KeyCorp set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and a consensus target price of $164.96.

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.