Worth Asset Management LLC Trims Position in NVIDIA Co. (NASDAQ:NVDA)

Worth Asset Management LLC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 36.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 12,332 shares of the computer hardware maker’s stock after selling 7,198 shares during the quarter. Worth Asset Management LLC’s holdings in NVIDIA were worth $1,337,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of NVDA. Norges Bank purchased a new position in NVIDIA during the 4th quarter worth approximately $43,515,504,000. GAMMA Investing LLC raised its position in NVIDIA by 12,173.2% during the 1st quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after buying an additional 48,439,859 shares during the last quarter. Northern Trust Corp increased its holdings in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC increased its holdings in shares of NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of NVIDIA during the 4th quarter valued at approximately $2,987,733,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the transaction, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,560,845 shares of company stock valued at $360,351,849. 4.17% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

Shares of NVDA stock opened at $145.00 on Friday. The firm’s 50 day moving average price is $121.86 and its 200-day moving average price is $126.41. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a one year low of $86.62 and a one year high of $153.13. The firm has a market cap of $3.54 trillion, a P/E ratio of 57.06, a P/E/G ratio of 1.76 and a beta of 2.12.

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

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. 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. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Benchmark reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, May 29th. TD Cowen lifted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Finally, HSBC lowered shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have assigned a buy rating and three have given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $172.24.

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.