Edgestream Partners L.P. Sells 3,259 Shares of NVIDIA Co. (NASDAQ:NVDA)

Edgestream Partners L.P. lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,240 shares of the computer hardware maker’s stock after selling 3,259 shares during the quarter. NVIDIA comprises 0.4% of Edgestream Partners L.P.’s portfolio, making the stock its 12th largest position. Edgestream Partners L.P.’s holdings in NVIDIA were worth $9,501,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Quest Partners LLC bought a new position in NVIDIA in the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new stake in NVIDIA during the third quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA during the 2nd quarter valued at $31,000. West Financial Advisors LLC bought a new stake in shares of NVIDIA in the 3rd quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Down 1.1 %

NVDA opened at $131.76 on Wednesday. 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 business’s fifty day moving average is $139.68 and its two-hundred day moving average is $128.82. NVIDIA Co. has a one year low of $54.74 and a one year high of $153.13. The company has a market cap of $3.23 trillion, a price-to-earnings ratio of 51.85, a PEG ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the prior year, the company posted $0.38 EPS. The company’s quarterly revenue was up 93.6% compared to the same quarter last year. Analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date 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%.

Insider Activity

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was 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 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NVDA. Benchmark reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Tuesday, January 7th. Robert W. Baird raised their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Truist Financial boosted their target price on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, UBS Group boosted their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.27.

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.