Peak Asset Management LLC Sells 1,033 Shares of NVIDIA Co. (NASDAQ:NVDA)

Peak Asset Management LLC lessened its stake in NVIDIA Co. (NASDAQ:NVDA) by 8.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,289 shares of the computer hardware maker’s stock after selling 1,033 shares during the quarter. Peak Asset Management LLC’s holdings in NVIDIA were worth $1,371,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in NVDA. Quest Partners LLC purchased a new position in shares of NVIDIA during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA in the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA in the second quarter worth about $31,000. FPC Investment Advisory Inc. boosted its holdings in shares of NVIDIA by 900.0% in the 2nd quarter. FPC Investment Advisory Inc. now owns 290 shares of the computer hardware maker’s stock valued at $34,000 after buying an additional 261 shares in the last quarter. Finally, West Financial Advisors LLC bought a new stake in shares of NVIDIA in the 3rd quarter valued at about $36,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on NVDA shares. Raymond James boosted their target price on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Robert W. Baird upped their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. UBS Group increased their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Needham & Company LLC boosted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Wells Fargo & Company raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $164.15.

Insider Buying and Selling at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,351,886 shares of company stock worth $176,825,650. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 0.4 %

Shares of NASDAQ:NVDA opened at $137.49 on Tuesday. The firm has a market capitalization of $3.37 trillion, a price-to-earnings ratio of 54.11, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The business’s 50 day moving average price is $139.84 and its 200-day moving average price is $128.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $47.32 and a 1 year high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share. On average, equities research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.57%.

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.