Petra Financial Advisors Inc. Lowers Holdings in NVIDIA Co. (NASDAQ:NVDA)

Petra Financial Advisors Inc. lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,535 shares of the computer hardware maker’s stock after selling 298 shares during the period. NVIDIA comprises about 1.9% of Petra Financial Advisors Inc.’s portfolio, making the stock its 12th largest holding. Petra Financial Advisors Inc.’s holdings in NVIDIA were worth $2,246,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. LFA Lugano Financial Advisors SA purchased a new position in NVIDIA in the fourth quarter valued at $28,000. Peoples Financial Services CORP. purchased a new position in shares of NVIDIA in the 3rd quarter valued at about $30,000. Your Advocates Ltd. LLP acquired a new position in NVIDIA in the 3rd quarter worth about $30,000. O Brien Wealth Partners LLC boosted its position in NVIDIA by 139.5% during the fourth quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock worth $45,000 after purchasing an additional 53 shares in the last quarter. Finally, Trivant Custom Portfolio Group LLC grew its holdings in NVIDIA by 44.1% in the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on NVDA. Mizuho lifted their price target on shares of NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. CICC Research began coverage on shares of NVIDIA in a research report on Wednesday, March 6th. They issued an “outperform” rating and a $870.00 target price on the stock. Raymond James upped their price target on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock a “strong-buy” rating in a research report on Thursday, April 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $1,100.00 price objective on shares of NVIDIA in a report on Tuesday, February 20th. Finally, Wells Fargo & Company increased their target price on NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $940.30.

Insider Activity

In related news, Director Mark A. Stevens sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 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 filing with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction that occurred on 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 sale, the director now directly owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,278 shares of company stock worth $52,689,898. 3.99% of the stock is currently owned by company insiders.

NVIDIA Stock Up 0.8 %

Shares of NVDA opened at $846.71 on Friday. 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 $2.12 trillion, a PE ratio of 70.91, a P/E/G ratio of 1.26 and a beta of 1.73. The company’s 50-day simple moving average is $843.90 and its 200-day simple moving average is $620.05. NVIDIA Co. has a 1 year low of $262.25 and a 1 year high of $974.00.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. The company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm’s revenue was up 265.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.65 EPS. Analysts forecast that NVIDIA Co. will post 22.45 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a 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 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.