Ferguson Wellman Capital Management Inc. Sells 9,239 Shares of NVIDIA Co. (NASDAQ:NVDA)

Ferguson Wellman Capital Management Inc. reduced its position in NVIDIA Co. (NASDAQ:NVDAGet Rating) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,271 shares of the computer hardware maker’s stock after selling 9,239 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in NVIDIA were worth $23,538,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. GSA Capital Partners LLP purchased a new position in NVIDIA in the fourth quarter valued at about $237,000. Summit Global Investments grew its stake in shares of NVIDIA by 42.5% during the fourth quarter. Summit Global Investments now owns 1,761 shares of the computer hardware maker’s stock worth $518,000 after acquiring an additional 525 shares during the last quarter. Rodgers Brothers Inc. purchased a new stake in shares of NVIDIA during the fourth quarter worth about $267,000. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of NVIDIA during the fourth quarter worth about $4,716,000. Finally, IHT Wealth Management LLC grew its stake in shares of NVIDIA by 3.3% during the fourth quarter. IHT Wealth Management LLC now owns 44,046 shares of the computer hardware maker’s stock worth $12,954,000 after acquiring an additional 1,415 shares during the last quarter. Hedge funds and other institutional investors own 62.58% of the company’s stock.

NVIDIA Stock Down 5.3 %

NASDAQ NVDA opened at $125.61 on Friday. The business has a fifty day moving average price of $162.82 and a 200 day moving average price of $185.71. NVIDIA Co. has a one year low of $124.28 and a one year high of $346.47. The company has a debt-to-equity ratio of 0.41, a quick ratio of 3.11 and a current ratio of 3.62. The company has a market cap of $312.77 billion, a P/E ratio of 41.18, a P/E/G ratio of 4.35 and a beta of 1.69.

NVIDIA (NASDAQ:NVDAGet Rating) last posted its quarterly earnings data on Wednesday, August 24th. The computer hardware maker reported $0.51 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.05). NVIDIA had a net margin of 26.03% and a return on equity of 36.83%. The firm had revenue of $6.70 billion during the quarter, compared to analyst estimates of $6.70 billion. During the same period in the prior year, the company posted $0.89 earnings per share. The firm’s revenue for the quarter was up 3.0% compared to the same quarter last year. Research analysts anticipate that NVIDIA Co. will post 2.49 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 29th. Shareholders of record on Thursday, September 8th will be issued a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.13%. The ex-dividend date of this dividend is Wednesday, September 7th. NVIDIA’s payout ratio is currently 5.25%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on NVDA shares. Needham & Company LLC dropped their price target on NVIDIA from $185.00 to $170.00 and set a “buy” rating on the stock in a research note on Friday, September 2nd. Mizuho dropped their price target on NVIDIA from $225.00 to $205.00 and set a “buy” rating on the stock in a research note on Thursday, September 15th. Piper Sandler dropped their target price on NVIDIA from $235.00 to $200.00 in a research report on Thursday, September 1st. Tigress Financial reiterated a “buy” rating and issued a $310.00 target price (down previously from $410.00) on shares of NVIDIA in a research report on Friday, July 8th. They noted that the move was a valuation call. Finally, Credit Suisse Group set a $205.00 target price on NVIDIA in a research report on Wednesday, August 31st. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $214.91.

NVIDIA Company Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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