Wharton Business Group LLC Decreases Stock Position in NVIDIA Co. (NASDAQ:NVDA) (2024)

Wharton Business Group LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 14.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,405 shares of the computer hardware maker’s stock after selling 235 shares during the quarter. Wharton Business Group LLC’s holdings in NVIDIA were worth $696,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Ironwood Wealth Management LLC. purchased a new stake in NVIDIA in the 3rd quarter valued at $274,000. Chicago Partners Investment Group LLC raised its stake in NVIDIA by 1.8% during the third quarter. Chicago Partners Investment Group LLC now owns 39,481 shares of the computer hardware maker’s stock worth $16,967,000 after purchasing an additional 702 shares during the period. Advisor Partners II LLC boosted its holdings in NVIDIA by 10.8% in the 3rd quarter. Advisor Partners II LLC now owns 140,860 shares of the computer hardware maker’s stock valued at $61,273,000 after purchasing an additional 13,775 shares during the last quarter. Catalyst Financial Partners LLC increased its holdings in shares of NVIDIA by 11.8% during the 3rd quarter. Catalyst Financial Partners LLC now owns 8,269 shares of the computer hardware maker’s stock worth $3,597,000 after buying an additional 876 shares during the last quarter. Finally, Orgel Wealth Management LLC purchased a new stake in shares of NVIDIA during the 3rd quarter valued at approximately $283,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NVDA. JPMorgan Chase & Co. upped their price target on NVIDIA from $650.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. Truist Financial increased their price objective on shares of NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Deutsche Bank Aktiengesellschaft upped their price target on NVIDIA from $720.00 to $850.00 and gave the stock a “hold” rating in a research note on Wednesday, March 20th. Oppenheimer reiterated an “outperform” rating and issued a $1,100.00 price objective on shares of NVIDIA in a report on Friday. Finally, HSBC raised their target price on NVIDIA from $1,050.00 to $1,350.00 and gave the company a “buy” rating in a report on Friday, May 10th. Four 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. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $966.55.

View Our Latest Report on NVDA

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Dabiri sold 128 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the transaction, 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 have sold 61,278 shares of company stock valued at $52,689,898 over the last quarter. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

NVDA opened at $924.79 on Friday. NVIDIA Co. has a 1-year low of $298.06 and a 1-year high of $974.00. The stock has a market cap of $2.27 trillion, a P/E ratio of 77.45, a P/E/G ratio of 1.34 and a beta of 1.75. The stock’s 50 day simple moving average is $882.98 and its 200 day simple moving average is $683.64. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67.

NVIDIA (NASDAQ:NVDA – Get Free Report) last posted its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.95. The company had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. NVIDIA’s revenue was up 265.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. As a group, equities analysts anticipate that NVIDIA Co. will post 22.76 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. 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 payout ratio is currently 1.34%.

NVIDIA Profile

(Free Report)

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.

Featured Articles

• Five stocks we like better than NVIDIA
• What is Short Interest? How to Use It
• Take-Two Interactive Software Offers 2nd Chance for Investors
• Biggest Stock Losers – Today’s Biggest Percentage Decliners
• Deere & Company’s Q2 Report: Strong Revenue, Cautious Outlook
• Should You Add These Warren Buffett Stocks to Your Portfolio?
• Analysts Still Want Double-Digit Upside Out of Applied Materials

Receive News & Ratings for NVIDIA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NVIDIA and related companies with MarketBeat.com's FREE daily email newsletter.