Peddock Capital Advisors LLC Lowers Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Peddock Capital Advisors LLC decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 429,236 shares of the computer hardware maker’s stock after selling 4,885 shares during the period. NVIDIA makes up 13.8% of Peddock Capital Advisors LLC’s holdings, making the stock its biggest position. Peddock Capital Advisors LLC’s holdings in NVIDIA were worth $57,642,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Miracle Mile Advisors LLC grew its position in NVIDIA by 27.9% during the fourth quarter. Miracle Mile Advisors LLC now owns 503,974 shares of the computer hardware maker’s stock worth $67,679,000 after buying an additional 109,811 shares in the last quarter. Conrad Siegel Investment Advisors Inc. lifted its position in NVIDIA by 4.2% during the fourth quarter. Conrad Siegel Investment Advisors Inc. now owns 8,595 shares of the computer hardware maker’s stock worth $1,154,000 after purchasing an additional 346 shares during the period. Horizon Wealth Management LLC grew its stake in NVIDIA by 9.0% during the fourth quarter. Horizon Wealth Management LLC now owns 41,087 shares of the computer hardware maker’s stock worth $5,518,000 after buying an additional 3,389 shares in the last quarter. Sunflower Bank N.A. lifted its holdings in shares of NVIDIA by 0.9% during the 4th quarter. Sunflower Bank N.A. now owns 18,996 shares of the computer hardware maker’s stock worth $2,551,000 after acquiring an additional 176 shares during the period. Finally, Burns J W & Co. Inc. NY boosted its position in shares of NVIDIA by 6.0% during the 4th quarter. Burns J W & Co. Inc. NY now owns 122,959 shares of the computer hardware maker’s stock worth $16,512,000 after acquiring an additional 6,946 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Benchmark reiterated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Robert W. Baird upped their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Susquehanna upped their price objective on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Finally, Melius Research boosted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $166.23.

NVIDIA Stock Down 4.3 %

NVIDIA stock opened at $123.43 on Thursday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1-year low of $60.70 and a 1-year high of $153.13. The firm has a market capitalization of $3.02 trillion, a price-to-earnings ratio of 48.58, a price-to-earnings-growth ratio of 2.65 and a beta of 1.64. The firm’s fifty day moving average price is $137.91 and its two-hundred day moving average price is $129.44.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 for the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the firm earned $0.38 earnings per share. The firm’s revenue was up 93.6% on a year-over-year basis. On average, equities research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the sale, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. Insiders own 4.23% of the company’s stock.

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.