NVIDIA Co. (NASDAQ:NVDA) Holdings Cut by Synovus Financial Corp

Synovus Financial Corp cut its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 13.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,055,828 shares of the computer hardware maker's stock after selling 159,865 shares during the period. NVIDIA accounts for 1.8% of Synovus Financial Corp's investment portfolio, making the stock its 10th largest holding. Synovus Financial Corp's holdings in NVIDIA were worth $141,789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Tacita Capital Inc bought a new stake in shares of NVIDIA during the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the fourth quarter worth $34,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA during the fourth quarter valued at $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA in the fourth quarter valued at about $40,000. Finally, Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the fourth quarter worth about $46,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Price Performance

NVIDIA stock traded up $6.93 during midday trading on Tuesday, reaching $129.93. The company's stock had a trading volume of 327,417,936 shares, compared to its average volume of 296,205,755. The firm has a market capitalization of $3.18 trillion, a PE ratio of 51.13, a P/E/G ratio of 1.76 and a beta of 2.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. The stock's 50 day simple moving average is $110.40 and its 200 day simple moving average is $127.06.

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

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.

Insider Activity

In related news, Director Aarti S. Shah sold 20,000 shares of the business's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now owns 53,208 shares in the company, valued at $6,300,891.36. The trade was a 27.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 2,663 shares of the company's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. This trade represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock valued at $17,133,207 over the last 90 days. 4.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NVDA shares. Summit Insights lowered NVIDIA from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. DZ Bank upgraded NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Bank of America decreased their target price on NVIDIA from $200.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, UBS Group cut their price target on NVIDIA from $180.00 to $175.00 and set a "buy" rating for the company in a report on Monday. 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 stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $164.84.

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.