Icon Wealth Advisors LLC Decreases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Icon Wealth Advisors LLC lessened its position in NVIDIA Co. (NASDAQ:NVDA) by 25.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 91,758 shares of the computer hardware maker’s stock after selling 30,573 shares during the quarter. NVIDIA comprises 0.4% of Icon Wealth Advisors LLC’s holdings, making the stock its 28th largest position. Icon Wealth Advisors LLC’s holdings in NVIDIA were worth $11,143,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC purchased a new position in NVIDIA during the second quarter worth approximately $27,000. Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the third quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the second quarter worth approximately $31,000. West Financial Advisors LLC purchased a new position in NVIDIA during the third quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its position in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 0.0 %

NVIDIA stock opened at $140.11 on Thursday. NVIDIA Co. has a fifty-two week low of $51.69 and a fifty-two week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $3.43 trillion, a P/E ratio of 55.14, a PEG ratio of 2.43 and a beta of 1.64. The stock has a 50-day simple moving average of $139.74 and a 200-day simple moving average of $128.46.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 EPS. Equities research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

NVDA has been the topic of a number of analyst reports. Wedbush lifted their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Redburn Atlantic assumed coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Needham & Company LLC raised their target price on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. William Blair assumed coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating for the company. Finally, Susquehanna raised their target price on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Company 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.