NVIDIA Co. (NASDAQ:NVDA) Stock Position Cut by Cohen Klingenstein LLC

Cohen Klingenstein LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 35.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 465,320 shares of the computer hardware maker’s stock after selling 260,030 shares during the quarter. NVIDIA comprises about 2.1% of Cohen Klingenstein LLC’s holdings, making the stock its 9th biggest holding. Cohen Klingenstein LLC’s holdings in NVIDIA were worth $62,488,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC purchased a new position in shares of NVIDIA during the second quarter valued at approximately $27,000. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA during the 2nd quarter valued at $31,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA in the 4th quarter worth $34,000. Finally, West Financial Advisors LLC bought a new stake in shares of NVIDIA in the third quarter worth $36,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NASDAQ:NVDA opened at $128.68 on Friday. The firm has a market capitalization of $3.15 trillion, a price-to-earnings ratio of 50.64, a PEG ratio of 2.16 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The business has a 50 day simple moving average of $135.62 and a 200-day simple moving average of $129.35. NVIDIA Co. has a 1 year low of $66.25 and a 1 year high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 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 firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the company earned $0.38 EPS. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. Equities analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were 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 approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction 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 directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NVDA has been the subject of a number of recent research reports. Oppenheimer restated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Mizuho boosted their target price on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Stifel Nicolaus increased their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. UBS Group boosted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Redburn Atlantic initiated coverage on NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. Four equities research 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. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.23.

NVIDIA Company 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.