Laurel Wealth Advisors LLC Cuts Position in NVIDIA Co. (NASDAQ:NVDA)

Laurel Wealth Advisors LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 140,521 shares of the computer hardware maker’s stock after selling 5,149 shares during the quarter. NVIDIA accounts for approximately 2.9% of Laurel Wealth Advisors LLC’s investment portfolio, making the stock its 7th biggest holding. Laurel Wealth Advisors LLC’s holdings in NVIDIA were worth $18,870,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of NVDA. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA in the 3rd quarter valued at about $27,000. Quest Partners LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA during the second quarter worth approximately $31,000. Legend Financial Advisors Inc. bought a new position in shares of NVIDIA in the 4th quarter worth $34,000. Finally, West Financial Advisors LLC acquired a new stake in NVIDIA in the 3rd quarter valued at $36,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 3.7 %

Shares of NVIDIA stock opened at $120.07 on Friday. NVIDIA Co. has a 1 year low of $60.70 and a 1 year high of $153.13. 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 firm has a market cap of $2.94 trillion, a PE ratio of 47.25, a PEG ratio of 2.23 and a beta of 1.64. The company has a 50 day simple moving average of $136.58 and a two-hundred day simple moving average of $129.31.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.38 EPS. Analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of analyst reports. HSBC lowered their target price 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. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Evercore ISI raised their price objective on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Piper Sandler lifted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Finally, Barclays increased their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $166.23.

Insiders Place Their Bets

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock valued at $146,506,958 over the last three months. Insiders own 4.23% of the company’s stock.

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.