NewEdge Advisors LLC Has $399.55 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

NewEdge Advisors LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,043,850 shares of the computer hardware maker’s stock after selling 159,445 shares during the period. NVIDIA makes up approximately 2.4% of NewEdge Advisors LLC’s investment portfolio, making the stock its 3rd largest holding. NewEdge Advisors LLC’s holdings in NVIDIA were worth $399,545,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

A number of analysts recently commented on NVDA shares. Rosenblatt Securities dropped their target price on shares of NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Bank of America increased their price objective on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus set a $180.00 target price on NVIDIA in a report on Wednesday, March 19th. Mizuho cut their target price on NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a research report on Friday, March 14th. Finally, Summit Insights downgraded NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.84.

NVIDIA Price Performance

NASDAQ NVDA opened at $135.34 on Thursday. The company has a 50 day moving average price of $111.24 and a two-hundred day moving average price of $127.14. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $195.95. The stock has a market capitalization of $3.31 trillion, a PE ratio of 53.26, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. 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 (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. As a group, equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s payout ratio is 1.36%.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now directly owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was 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 of the company’s stock, valued at $360,509,924.95. This represents a 2.11% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is currently owned by insiders.

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.