Patrick M Sweeney & Associates Inc. Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Patrick M Sweeney & Associates Inc. cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,694 shares of the computer hardware maker’s stock after selling 118 shares during the quarter. Patrick M Sweeney & Associates Inc.’s holdings in NVIDIA were worth $899,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Tuesday, January 7th. Wells Fargo & Company increased their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Truist Financial upped their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, Morgan Stanley dropped their target price on shares of NVIDIA from $166.00 to $152.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $168.21.

Insider Activity

In related news, EVP Ajay K. Puri sold 36,462 shares of the company’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 transaction, the executive vice president now 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $134.35 on Friday. NVIDIA Co. has a 12 month low of $74.22 and a 12 month high of $153.13. The stock has a market cap of $3.29 trillion, a PE ratio of 52.87, a price-to-earnings-growth ratio of 1.75 and a beta of 1.62. 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 company’s fifty day moving average price is $134.66 and its 200-day moving average price is $131.14.

NVIDIA (NASDAQ:NVDA) last announced its 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 firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the business posted $0.38 EPS. The company’s quarterly revenue was up 93.6% on a year-over-year basis. On average, equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

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.