Wharton Business Group LLC Reduces Stake in NVIDIA Co. (NASDAQ:NVDA)

Wharton Business Group LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.3% during the 4th quarter, Holdings Channel reports. The fund owned 14,151 shares of the computer hardware maker’s stock after selling 1,115 shares during the quarter. Wharton Business Group LLC’s holdings in NVIDIA were worth $1,900,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the 4th quarter valued at about $34,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at approximately $40,000. DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares during the period. Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the fourth quarter worth approximately $46,000. Finally, 1620 Investment Advisors Inc. increased its stake in NVIDIA by 145.9% during the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock worth $51,000 after acquiring an additional 248 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Down 1.6 %

NASDAQ NVDA opened at $109.67 on Monday. The firm’s fifty day moving average price is $125.01 and its 200 day moving average price is $131.61. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $195.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market capitalization of $2.68 trillion, a price-to-earnings ratio of 43.16, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. On average, sell-side analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Analyst Ratings Changes

Several brokerages have recently commented on NVDA. Summit Insights lowered NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the stock an “overweight” rating in a research note on Wednesday, March 19th. DA Davidson reduced their price target on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. HSBC decreased their price objective on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, January 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average target price of $171.51.

Insider Activity

In related news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. This represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 183,609 shares of company stock valued at $22,642,615. 4.23% of the stock is currently owned by company 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.