Spectrum Strategic Capital Management LLC Has $3.14 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Spectrum Strategic Capital Management LLC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 20.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 23,361 shares of the computer hardware maker’s stock after selling 5,920 shares during the period. NVIDIA comprises approximately 2.0% of Spectrum Strategic Capital Management LLC’s investment portfolio, making the stock its 8th biggest position. Spectrum Strategic Capital Management LLC’s holdings in NVIDIA were worth $3,137,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ironwood Wealth Management LLC. lifted its stake in shares of NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after acquiring an additional 5,695 shares during the last quarter. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA in the 2nd quarter valued at $31,000. Beck Bode LLC lifted its stake in shares of NVIDIA by 698.5% in the 2nd quarter. Beck Bode LLC now owns 182,866 shares of the computer hardware maker’s stock valued at $22,591,000 after acquiring an additional 159,966 shares during the last quarter. Beaton Management Co. Inc. lifted its stake in shares of NVIDIA by 888.5% in the 2nd quarter. Beaton Management Co. Inc. now owns 67,310 shares of the computer hardware maker’s stock valued at $8,315,000 after acquiring an additional 60,501 shares during the last quarter. Finally, Drexel Morgan & Co. bought a new position in shares of NVIDIA in the 2nd quarter valued at $222,000. 65.27% of the stock is currently owned by institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % 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 valued at $146,506,958. 4.23% of the stock is owned by corporate insiders.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $134.35 on Friday. NVIDIA Co. has a fifty-two week low of $74.22 and a fifty-two week high of $153.13. The stock has a market cap of $3.29 trillion, a price-to-earnings ratio of 52.87, a PEG ratio of 1.75 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm’s 50-day simple moving average is $134.66 and its 200 day simple moving average is $131.14.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $33.15 billion. During the same quarter last year, the firm earned $0.38 EPS. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research reports. Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Wednesday, November 20th. Rosenblatt Securities reaffirmed a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research report on Wednesday, January 8th. Melius Research raised their target price on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Robert W. Baird raised their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, Benchmark reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.21.

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.