IMA Wealth Inc. Trims Stake in NVIDIA Co. (NASDAQ:NVDA)

IMA Wealth Inc. decreased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,569 shares of the computer hardware maker’s stock after selling 660 shares during the quarter. NVIDIA makes up 2.1% of IMA Wealth Inc.’s portfolio, making the stock its 14th largest position. IMA Wealth Inc.’s holdings in NVIDIA were worth $4,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in NVDA. International Assets Investment Management LLC raised its stake in NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after buying an additional 16,835,703 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of NVIDIA by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after acquiring an additional 2,287,471 shares during the period. California Public Employees Retirement System raised its position in shares of NVIDIA by 31.8% in the 4th quarter. California Public Employees Retirement System now owns 7,477,385 shares of the computer hardware maker’s stock worth $3,702,951,000 after acquiring an additional 1,805,763 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new stake in shares of NVIDIA during the 3rd quarter worth $728,543,000. Finally, Assenagon Asset Management S.A. lifted its stake in shares of NVIDIA by 99.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,384,968 shares of the computer hardware maker’s stock worth $1,037,437,000 after purchasing an additional 1,189,495 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Argus lifted their price objective on shares of NVIDIA from $850.00 to $950.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Cantor Fitzgerald restated an “overweight” rating and issued a $900.00 target price on shares of NVIDIA in a research note on Monday, March 4th. Mizuho boosted their price target on NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Oppenheimer increased their price objective on NVIDIA from $850.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Finally, Wolfe Research lifted their target price on NVIDIA from $630.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $941.55.

Insider Activity

In related news, Director Mark A. Stevens sold 5,000 shares of NVIDIA stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the transaction, the director now owns 1,119,583 shares in the company, valued at $896,494,891.42. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, Director Mark A. Stevens sold 5,000 shares of the company’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the completion of the sale, the director now owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the sale, the director now owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock worth $52,689,898 over the last ninety days. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Stock Up 3.5 %

Shares of NVDA opened at $887.89 on Monday. The stock has a 50 day moving average price of $867.38 and a 200 day moving average price of $652.35. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The stock has a market capitalization of $2.22 trillion, a price-to-earnings ratio of 74.36, a PEG ratio of 1.27 and a beta of 1.75. NVIDIA Co. has a one year low of $272.40 and a one year high of $974.00.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. The business had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio is currently 1.34%.

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.