Birmingham Capital Management Co. Inc. AL Cuts Stake in NVIDIA Co. (NASDAQ:NVDA)

Birmingham Capital Management Co. Inc. AL cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 14.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,750 shares of the computer hardware maker’s stock after selling 4,625 shares during the quarter. NVIDIA comprises about 1.2% of Birmingham Capital Management Co. Inc. AL’s investment portfolio, making the stock its 27th biggest position. Birmingham Capital Management Co. Inc. AL’s holdings in NVIDIA were worth $3,370,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the stock. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA during the third quarter worth about $27,000. Quest Partners LLC purchased a new stake in shares of NVIDIA during the second quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in NVIDIA in the second quarter worth about $31,000. West Financial Advisors LLC acquired a new position in NVIDIA in the third quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. grew its stake in NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Up 0.1 %

NASDAQ NVDA opened at $147.22 on Friday. NVIDIA Co. has a twelve month low of $59.94 and a twelve month 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 stock has a market cap of $3.61 trillion, a price-to-earnings ratio of 57.94, a PEG ratio of 2.54 and a beta of 1.64. The firm’s 50 day moving average price is $138.70 and its two-hundred day moving average price is $129.34.

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

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s 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 transaction, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research reports. Evercore ISI lifted their target price on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Bank of America restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. The Goldman Sachs Group lifted their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Needham & Company LLC lifted their target price on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Barclays boosted their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

About NVIDIA

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.