Cahaba Wealth Management Inc. Sells 1,067 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cahaba Wealth Management Inc. decreased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 26.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,032 shares of the computer hardware maker’s stock after selling 1,067 shares during the quarter. NVIDIA makes up 0.2% of Cahaba Wealth Management Inc.’s portfolio, making the stock its 28th largest position. Cahaba Wealth Management Inc.’s holdings in NVIDIA were worth $2,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Vanguard Group Inc. increased its position in NVIDIA by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 204,507,576 shares of the computer hardware maker’s stock valued at $101,276,242,000 after purchasing an additional 827,377 shares during the period. Norges Bank purchased a new position in NVIDIA during the 4th quarter valued at about $14,606,369,000. Northern Trust Corp increased its position in NVIDIA by 3.6% during the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after purchasing an additional 910,009 shares during the period. International Assets Investment Management LLC increased its position in NVIDIA by 54,019.5% during the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in NVIDIA by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock valued at $6,728,354,000 after purchasing an additional 388,851 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on NVDA shares. HSBC raised their target price on shares of NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a research report on Monday, March 18th. Craig Hallum lifted their price objective on shares of NVIDIA from $700.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Piper Sandler lifted their price objective on shares of NVIDIA from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. UBS Group lifted their price objective on shares of NVIDIA from $1,100.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley lifted their price objective 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. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $941.55.

NVIDIA Stock Performance

Shares of NVDA traded down $13.55 during trading hours on Tuesday, hitting $864.02. The stock had a trading volume of 36,070,525 shares, compared to its average volume of 51,807,828. 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 firm has a 50-day moving average price of $860.82 and a 200 day moving average price of $643.52. NVIDIA Co. has a fifty-two week low of $272.40 and a fifty-two week high of $974.00. The firm has a market capitalization of $2.16 trillion, a price-to-earnings ratio of 72.36, a PEG ratio of 1.26 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the previous year, the business posted $0.65 EPS. The business’s revenue was up 265.3% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA Co. will post 22.55 EPS for the current year.

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In related news, Director John Dabiri sold 128 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now directly owns 2,055 shares in the company, valued at approximately $1,931,700. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 128 shares of the business’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the sale, the director now directly owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock worth $52,689,898 in the last three months. Company insiders own 3.99% 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.