Summit Financial Strategies Inc. Sells 269 Shares of NVIDIA Co. (NASDAQ:NVDA)

Summit Financial Strategies Inc. lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 2.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,150 shares of the computer hardware maker’s stock after selling 269 shares during the period. Summit Financial Strategies Inc.’s holdings in NVIDIA were worth $1,632,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hoertkorn Richard Charles grew its stake in shares of NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after purchasing an additional 70 shares during the period. Smart Portfolios LLC boosted its stake in NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after buying an additional 75 shares in the last quarter. Palisade Asset Management LLC grew its position in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after acquiring an additional 75 shares during the period. Kwmg LLC raised its stake in NVIDIA by 0.6% during the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock worth $1,755,000 after acquiring an additional 77 shares in the last quarter. Finally, Total Wealth Planning LLC lifted its holdings in shares of NVIDIA by 3.6% during the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after acquiring an additional 78 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insider Activity

In related news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated 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 in the company, valued at $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 over the last quarter. 4.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Bank of America reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft lifted their target price on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Wedbush restated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a report on Monday, January 27th. Finally, HSBC reduced their price objective on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $168.21.

NVIDIA Stock Up 0.6 %

Shares of NVIDIA stock opened at $140.11 on Friday. The company has a market capitalization of $3.43 trillion, a P/E ratio of 55.14, a price-to-earnings-growth ratio of 1.75 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 moving average of $134.66 and a two-hundred day moving average of $130.91. NVIDIA Co. has a 1 year low of $66.25 and a 1 year high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted 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 return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the business earned $0.38 EPS. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, equities analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

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.