Echo Wealth Management LLC Sells 405 Shares of NVIDIA Co. (NASDAQ:NVDA)

Echo Wealth Management LLC cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 16.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,017 shares of the computer hardware maker’s stock after selling 405 shares during the quarter. Echo Wealth Management LLC’s holdings in NVIDIA were worth $271,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA in the second quarter valued at approximately $31,000. Legend Financial Advisors Inc. acquired a new stake in NVIDIA in the fourth quarter worth $34,000. West Financial Advisors LLC bought a new position in shares of NVIDIA during the third quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. increased its position 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 buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In related news, EVP Ajay K. Puri sold 36,462 shares of the business’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 sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 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 transaction, the director now owns 19,942 shares in the company, valued at $2,831,764. The trade was a 3.47 % decrease in their position. 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. 4.23% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have weighed in on NVDA. Melius Research lifted their target price on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Morgan Stanley cut their price objective on NVIDIA from $166.00 to $152.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Wedbush increased their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Tigress Financial raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating and lifted their price target for the company from $170.00 to $220.00 in a research note on Tuesday, January 28th. Finally, UBS Group increased their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $168.21.

NVIDIA Price Performance

NASDAQ:NVDA opened at $139.40 on Wednesday. The company has a market cap of $3.41 trillion, a P/E ratio of 54.86, a P/E/G ratio of 1.62 and a beta of 1.62. The firm’s fifty day moving average price is $134.52 and its two-hundred day moving average price is $130.56. NVIDIA Co. has a one year low of $66.25 and a one year high of $153.13. 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 (NASDAQ:NVDA) last announced 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 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 quarter in the prior year, the business earned $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. Equities analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

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.