Graypoint LLC Sells 8,224 Shares of NVIDIA Co. (NASDAQ:NVDA)

Graypoint LLC lowered its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 425,297 shares of the computer hardware maker’s stock after selling 8,224 shares during the quarter. NVIDIA makes up approximately 3.5% of Graypoint LLC’s investment portfolio, making the stock its 4th largest position. Graypoint LLC’s holdings in NVIDIA were worth $57,113,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of NVDA. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA in the third quarter valued at approximately $27,000. Quest Partners LLC acquired a new stake in shares of NVIDIA in the second quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA in the second quarter valued at approximately $31,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the fourth quarter valued at approximately $34,000. Finally, West Financial Advisors LLC acquired a new position in NVIDIA during the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Down 16.9 %

NVIDIA stock opened at $118.48 on Tuesday. The company’s fifty day simple moving average is $138.72 and its 200-day simple moving average is $129.52. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12 month low of $60.70 and a 12 month high of $153.13. The stock has a market cap of $2.90 trillion, a P/E ratio of 46.63, a P/E/G ratio of 2.65 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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 during 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%. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.38 EPS. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Activity at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last quarter. 4.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NVDA shares. Susquehanna boosted their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Melius Research boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Oppenheimer restated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. DA Davidson boosted their price objective on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Citigroup upped their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four equities research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $165.23.

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.