Summitry LLC Sells 7,622 Shares of NVIDIA Co. (NASDAQ:NVDA)

Summitry LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 11.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 61,844 shares of the computer hardware maker's stock after selling 7,622 shares during the quarter. Summitry LLC's holdings in NVIDIA were worth $8,305,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Tacita Capital Inc acquired a new position in NVIDIA during the 4th quarter worth $28,000. Legend Financial Advisors Inc. bought a new position in shares of NVIDIA during the fourth quarter worth about $34,000. Vision Financial Markets LLC acquired a new position in NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the 4th quarter valued at approximately $46,000. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Stock Performance

NVDA traded down $0.10 during midday trading on Wednesday, reaching $108.92. The company's stock had a trading volume of 223,117,523 shares, compared to its average volume of 303,086,208. The stock has a market cap of $2.66 trillion, a P/E ratio of 42.87, a PEG ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a twelve month low of $81.25 and a twelve month high of $195.95. The company has a fifty day simple moving average of $111.97 and a 200 day simple moving average of $128.63. 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 results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $38.16 billion. Research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on NVDA. Raymond James reaffirmed a "strong-buy" rating on shares of NVIDIA in a report on Wednesday, April 16th. DZ Bank raised shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 target price on the stock. in a research note on Thursday, April 3rd. William Blair reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Finally, Morgan Stanley cut their target price on NVIDIA from $162.00 to $160.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Six investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $164.96.

Insider Buying and Selling at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the business's 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 transaction, the director now owns 251,044 shares of the company's stock, valued at $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is currently owned by corporate insiders.

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.