Kades & Cheifetz LLC Sells 352 Shares of NVIDIA Co. (NASDAQ:NVDA)

Kades & Cheifetz LLC reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,729 shares of the computer hardware maker’s stock after selling 352 shares during the quarter. NVIDIA makes up approximately 1.2% of Kades & Cheifetz LLC’s holdings, making the stock its 25th biggest position. Kades & Cheifetz LLC’s holdings in NVIDIA were worth $2,381,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Quest Partners LLC bought a new stake in NVIDIA during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc bought a new stake in NVIDIA during the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in NVIDIA during the second quarter valued at approximately $31,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the fourth quarter valued at approximately $34,000. Finally, West Financial Advisors LLC acquired a new position in shares of NVIDIA during the 3rd quarter worth approximately $36,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on NVDA. The Goldman Sachs Group raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. TD Cowen lifted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. UBS Group upped their target price on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. DA Davidson lifted their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Tigress Financial upgraded NVIDIA from a “buy” rating to a “strong-buy” rating and upped their price objective for the company from $170.00 to $220.00 in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $166.23.

NVIDIA Stock Performance

NVIDIA stock opened at $127.80 on Wednesday. The business’s 50-day moving average price is $138.29 and its two-hundred day moving average price is $129.45. The stock has a market cap of $3.13 trillion, a PE ratio of 50.29, a P/E/G ratio of 2.65 and a beta of 1.64. NVIDIA Co. has a 12-month low of $60.70 and a 12-month high of $153.13. 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 (NASDAQ:NVDA) last announced its quarterly earnings results 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. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.38 EPS. As a group, analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued 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 dividend payout ratio (DPR) is presently 1.57%.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 36,462 shares of the company’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 value of $5,509,408.20. Following the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last ninety days. Company insiders own 4.23% of the company’s stock.

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.