New Century Financial Group LLC Trims Stock Position in NVIDIA Co. (NASDAQ:NVDA)

New Century Financial Group LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,195 shares of the computer hardware maker’s stock after selling 3,836 shares during the period. NVIDIA makes up approximately 2.1% of New Century Financial Group LLC’s holdings, making the stock its 7th biggest holding. New Century Financial Group LLC’s holdings in NVIDIA were worth $4,940,000 at the end of the most recent quarter.

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

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

Shares of NVDA opened at $138.85 on Friday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market cap of $3.40 trillion, a PE ratio of 54.64, a P/E/G ratio of 1.62 and a beta of 1.62. NVIDIA Co. has a 12 month low of $66.25 and a 12 month high of $153.13. The stock has a fifty day moving average price of $134.52 and a 200-day moving average price of $130.07.

NVIDIA (NASDAQ:NVDA) last released 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. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the business posted $0.38 earnings per share. The firm’s revenue was up 93.6% compared to the same quarter last year. Equities research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders 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 dividend payout ratio is presently 1.57%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. TD Cowen boosted their target price on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Redburn Atlantic initiated coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. DA Davidson lifted their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Raymond James increased their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Morgan Stanley dropped their target price on NVIDIA from $166.00 to $152.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Four 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $166.23.

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.