West Michigan Advisors LLC Sells 934 Shares of NVIDIA Co. (NASDAQ:NVDA)

West Michigan Advisors LLC reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 60,540 shares of the computer hardware maker’s stock after selling 934 shares during the quarter. NVIDIA accounts for about 2.5% of West Michigan Advisors LLC’s investment portfolio, making the stock its 7th biggest holding. West Michigan Advisors LLC’s holdings in NVIDIA were worth $8,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of NVDA. AMF Tjanstepension AB raised its holdings in shares of 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 purchasing an additional 169,445 shares during the last quarter. Wealth Group Ltd. grew its position in NVIDIA by 5.0% in the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock valued at $680,000 after purchasing an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. grew its position in 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 purchasing an additional 350 shares in the last quarter. Swedbank AB increased its stake in NVIDIA by 4.8% in the 3rd 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 during the last quarter. Finally, Horizon Bancorp Inc. IN lifted its position in NVIDIA by 10.9% during the 3rd quarter. Horizon Bancorp Inc. IN now owns 10,330 shares of the computer hardware maker’s stock worth $1,254,000 after buying an additional 1,018 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NVDA has been the topic of a number of recent research reports. Barclays lifted their target price on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Susquehanna reiterated a “positive” rating and set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Rosenblatt Securities reissued a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the stock an “overweight” rating in a report on Wednesday, March 19th. Finally, HSBC cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $169.89.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the 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 completion of the transaction, the insider now owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 183,609 shares of company stock valued at $22,642,615. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 7.4 %

Shares of NVIDIA stock opened at $94.31 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $195.95. The company has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 37.12, a PEG ratio of 1.76 and a beta of 1.96. The firm’s 50-day moving average price is $121.20 and its two-hundred day moving average price is $131.07.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, analysts forecast 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 was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s payout ratio is 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.