Essex Private Wealth Management LLC Sells 224 Shares of NVIDIA Co. (NASDAQ:NVDA)

Essex Private Wealth Management LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 18.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 991 shares of the computer hardware maker’s stock after selling 224 shares during the quarter. NVIDIA comprises about 1.5% of Essex Private Wealth Management LLC’s investment portfolio, making the stock its 17th largest holding. Essex Private Wealth Management LLC’s holdings in NVIDIA were worth $491,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of NVDA. Campbell Newman Asset Management Inc. boosted its position in NVIDIA by 0.6% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 2,991 shares of the computer hardware maker’s stock worth $1,481,000 after buying an additional 18 shares during the period. Aprio Wealth Management LLC boosted its position in NVIDIA by 1.8% during the 4th quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock worth $523,000 after buying an additional 19 shares during the period. Palumbo Wealth Management LLC boosted its position in NVIDIA by 0.7% during the 4th quarter. Palumbo Wealth Management LLC now owns 2,816 shares of the computer hardware maker’s stock worth $1,395,000 after buying an additional 19 shares during the period. Corundum Group Inc. boosted its position in NVIDIA by 0.8% during the 4th quarter. Corundum Group Inc. now owns 2,380 shares of the computer hardware maker’s stock worth $1,179,000 after buying an additional 19 shares during the period. Finally, North Star Investment Management Corp. boosted its position in NVIDIA by 0.3% during the 4th quarter. North Star Investment Management Corp. now owns 6,994 shares of the computer hardware maker’s stock worth $3,463,000 after buying an additional 20 shares during the period. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. Wedbush reiterated an “outperform” rating and set a $1,000.00 target price on shares of NVIDIA in a research report on Tuesday, March 19th. Morgan Stanley lifted their target price on shares of NVIDIA from $795.00 to $1,000.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 10th. KeyCorp lifted their target price on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Citigroup boosted their price target on shares of NVIDIA from $820.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Finally, Tigress Financial boosted their price target on shares of NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $940.30.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the transaction, the director now directly owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the sale, the director now directly owns 1,124,583 shares in the company, valued at $896,933,663.31. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is owned by insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $762.00 on Friday. The company’s 50-day moving average is $844.71 and its 200 day moving average is $622.23. 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 company has a market capitalization of $1.91 trillion, a P/E ratio of 63.82, a price-to-earnings-growth ratio of 1.22 and a beta of 1.73. NVIDIA Co. has a fifty-two week low of $262.25 and a fifty-two week high of $974.00.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. The company had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm’s quarterly revenue was up 265.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.65 EPS. On average, equities research analysts forecast that NVIDIA Co. will post 22.45 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) 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.