Cerro Pacific Wealth Advisors LLC Sells 976 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cerro Pacific Wealth Advisors LLC reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,050 shares of the computer hardware maker’s stock after selling 976 shares during the period. NVIDIA comprises approximately 4.2% of Cerro Pacific Wealth Advisors LLC’s holdings, making the stock its 3rd biggest position. Cerro Pacific Wealth Advisors LLC’s holdings in NVIDIA were worth $12,630,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of NVDA. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA during the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA in the second quarter worth about $31,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the fourth quarter valued at approximately $34,000. West Financial Advisors LLC bought a new position in shares of NVIDIA during the third quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In other news, Director John Dabiri sold 716 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’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 transaction of $608,760.00. Following the sale, the insider now owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $138.85 on Friday. The company has a 50-day moving average of $134.52 and a two-hundred day moving average of $130.07. The stock has a market cap of $3.40 trillion, a price-to-earnings ratio of 54.64, a PEG ratio of 1.62 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. NVIDIA Co. has a one year low of $66.25 and a one year high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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 analyst estimates of $33.15 billion. During the same quarter last year, the business posted $0.38 EPS. The company’s revenue was up 93.6% on a year-over-year basis. On average, equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on NVDA shares. Needham & Company LLC boosted their price objective on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Melius Research boosted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Redburn Atlantic started coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective on the stock. Piper Sandler boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, DA Davidson raised their price target on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. 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.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $166.23.

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.