Strait & Sound Wealth Management LLC Sells 7,641 Shares of NVIDIA Co. (NASDAQ:NVDA)

Strait & Sound Wealth Management LLC lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 9.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 69,936 shares of the computer hardware maker’s stock after selling 7,641 shares during the quarter. NVIDIA makes up about 4.4% of Strait & Sound Wealth Management LLC’s investment portfolio, making the stock its 7th largest holding. Strait & Sound Wealth Management LLC’s holdings in NVIDIA were worth $9,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVDA. Hickory Point Bank & Trust bought a new stake in NVIDIA in the 4th quarter valued at $2,272,000. Capital Performance Advisors LLP increased its holdings in shares of NVIDIA by 59.3% in the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after purchasing an additional 9,944 shares during the last quarter. Waddell & Associates LLC raised its position in shares of NVIDIA by 1.2% in the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock valued at $3,240,000 after purchasing an additional 297 shares during the period. Strategy Asset Managers LLC lifted its stake in shares of NVIDIA by 0.8% during the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock worth $7,024,000 after buying an additional 405 shares during the last quarter. Finally, Ethos Financial Group LLC boosted its holdings in shares of NVIDIA by 24.1% during the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock worth $4,312,000 after buying an additional 6,241 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $137.38 on Tuesday. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $195.95. The company has a 50-day simple moving average of $115.95 and a 200 day simple moving average of $126.21. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $3.36 trillion, a PE ratio of 54.07, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same period last year, the company posted $0.61 EPS. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. On average, research analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.29%.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research analyst reports. UBS Group restated a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Benchmark reiterated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Thursday, May 29th. KeyCorp set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 target price on shares of NVIDIA in a report on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have given a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $171.66.

Insider Buying and Selling

In related news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now owns 251,044 shares in the company, valued at approximately $28,993,071.56. This trade represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’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 transaction, the insider now owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,147 shares of company stock valued at $17,133,207. Company insiders own 4.17% of the company’s stock.

About NVIDIA

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.