Biltmore Wealth Management LLC Trims Position in NVIDIA Co. (NASDAQ:NVDA)

Biltmore Wealth Management LLC lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 1.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,107 shares of the computer hardware maker’s stock after selling 130 shares during the quarter. NVIDIA comprises about 0.7% of Biltmore Wealth Management LLC’s holdings, making the stock its 16th biggest holding. Biltmore Wealth Management LLC’s holdings in NVIDIA were worth $1,760,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVDA. University of Texas Texas AM Investment Management Co. lifted its holdings in NVIDIA by 897.5% in the second quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after acquiring an additional 107,169 shares during the last quarter. Truepoint Inc. lifted its stake in shares of NVIDIA by 914.1% in the 2nd quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock valued at $1,605,000 after purchasing an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. grew its holdings in shares of NVIDIA by 683.9% during the 2nd quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock worth $29,505,000 after purchasing an additional 208,362 shares during the period. Palisade Asset Management LLC raised its holdings in NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after buying an additional 75 shares during the period. Finally, Blue Square Asset Management LLC lifted its position in NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after buying an additional 10,136 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NVDA shares. The Goldman Sachs Group boosted their price target 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. Tigress Financial upgraded NVIDIA from a “buy” rating to a “strong-buy” rating and raised their price target for the stock from $170.00 to $220.00 in a research report on Tuesday. Wells Fargo & Company increased their target price on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Needham & Company LLC boosted their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Benchmark restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $166.23.

NVIDIA Trading Up 0.8 %

NASDAQ:NVDA opened at $124.75 on Friday. The company has a market capitalization of $3.06 trillion, a PE ratio of 49.09, a P/E/G ratio of 2.65 and a beta of 1.64. NVIDIA Co. has a 52-week low of $60.70 and a 52-week high of $153.13. The stock’s 50 day moving average price is $137.46 and its 200 day moving average price is $129.40. 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 earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping 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 business 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 posted $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, research analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders 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 dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,108,348 shares of company stock worth $146,506,958. 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.