NVIDIA Co. (NASDAQ:NVDA) Stock Position Reduced by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 54.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,798 shares of the computer hardware maker’s stock after selling 72,312 shares during the period. NVIDIA makes up approximately 1.8% of Legacy Capital Wealth Partners LLC’s portfolio, making the stock its 9th biggest position. Legacy Capital Wealth Partners LLC’s holdings in NVIDIA were worth $8,030,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. AMF Tjanstepension AB raised its stake in NVIDIA by 2.2% in the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock valued at $976,348,000 after buying an additional 169,445 shares in the last quarter. Wealth Group Ltd. raised its position in NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after buying an additional 265 shares during the last quarter. SOA Wealth Advisors LLC. boosted its stake in shares of NVIDIA by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock valued at $14,650,000 after buying an additional 350 shares in the last quarter. Swedbank AB increased its holdings in NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after buying an additional 1,868,358 shares in the last quarter. Finally, Cascade Investment Group Inc. boosted its position in NVIDIA by 57.6% during the third quarter. Cascade Investment Group Inc. now owns 7,873 shares of the computer hardware maker’s stock worth $956,000 after purchasing an additional 2,878 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 2,663 shares of NVIDIA 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 completion of the sale, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,449 shares of company stock worth $11,960,727. 4.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on NVDA shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. HSBC dropped their target price on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research report on Monday, January 13th. Wells Fargo & Company boosted their price objective on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Finally, Truist Financial boosted their price target on NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $171.76.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $117.52 on Thursday. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $127.71 and a two-hundred day simple moving average of $131.12. The stock has a market capitalization of $2.87 trillion, a P/E ratio of 46.25, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

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.