Precision Wealth Strategies LLC Lowers Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Precision Wealth Strategies LLC trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,374 shares of the computer hardware maker’s stock after selling 163 shares during the period. NVIDIA accounts for 1.0% of Precision Wealth Strategies LLC’s holdings, making the stock its 22nd biggest position. Precision Wealth Strategies LLC’s holdings in NVIDIA were worth $581,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich raised its position in shares of NVIDIA by 84,165.9% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 1,389,779,605 shares of the computer hardware maker’s stock valued at $587,904,569,000 after buying an additional 1,388,130,327 shares during the last quarter. Geode Capital Management LLC increased its position in NVIDIA by 0.6% during the first quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock worth $12,763,663,000 after purchasing an additional 267,061 shares during the last quarter. Morgan Stanley increased its position in NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after purchasing an additional 4,621,002 shares during the last quarter. Norges Bank acquired a new stake in NVIDIA during the fourth quarter worth about $3,900,874,000. Finally, Bank of New York Mellon Corp increased its position in NVIDIA by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 21,702,416 shares of the computer hardware maker’s stock worth $6,028,280,000 after purchasing an additional 322,662 shares during the last quarter. 64.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 21,500 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the sale, the director now directly owns 1,030,786 shares in the company, valued at approximately $482,490,310.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Colette Kress sold 4,980 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $460.74, for a total value of $2,294,485.20. Following the sale, the chief financial officer now directly owns 499,428 shares in the company, valued at approximately $230,106,456.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 21,500 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the sale, the director now owns 1,030,786 shares in the company, valued at $482,490,310.88. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,232 shares of company stock worth $67,606,089. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $504.09 on Tuesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.37 and a current ratio of 2.79. The stock has a market capitalization of $1.25 trillion, a P/E ratio of 121.76, a P/E/G ratio of 3.80 and a beta of 1.69. The company’s fifty day moving average is $445.22 and its two-hundred day moving average is $425.77. NVIDIA Co. has a 1 year low of $138.84 and a 1 year high of $505.48.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.08 by $0.62. The company had revenue of $13.51 billion for the quarter, compared to analysts’ expectations of $11.19 billion. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. NVIDIA’s revenue was up 101.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 EPS. On average, sell-side analysts predict that NVIDIA Co. will post 9.66 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were given a dividend of $0.04 per share. The ex-dividend date of this dividend was Wednesday, September 6th. This represents a $0.16 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is currently 3.86%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVDA. UBS Group raised their price objective on shares of NVIDIA from $540.00 to $560.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. BMO Capital Markets lifted their price target on shares of NVIDIA from $450.00 to $550.00 and gave the company an “outperform” rating in a research report on Monday, August 21st. BNP Paribas raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and set a $745.00 price objective for the company in a research note on Thursday, August 24th. Benchmark raised their price objective on shares of NVIDIA from $475.00 to $625.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. Finally, Craig Hallum raised their price objective on shares of NVIDIA from $500.00 to $700.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $571.49.

NVIDIA Profile

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.