Cullinan Associates Inc. Sells 39,500 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cullinan Associates Inc. reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 23.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,154 shares of the computer hardware maker’s stock after selling 39,500 shares during the quarter. NVIDIA accounts for about 1.1% of Cullinan Associates Inc.’s holdings, making the stock its 23rd biggest position. Cullinan Associates Inc.’s holdings in NVIDIA were worth $17,478,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the 3rd quarter worth $27,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the fourth quarter valued at about $34,000. West Financial Advisors LLC bought a new position in shares of NVIDIA during the third quarter valued at about $36,000. Luken Investment Analytics LLC purchased a new position in NVIDIA during the fourth quarter worth about $40,000. Finally, DHJJ Financial Advisors Ltd. grew its position in NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

Shares of NVDA stock opened at $114.06 on Tuesday. 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 $133.68 and its 200-day moving average price is $132.06. The stock has a market cap of $2.78 trillion, a PE ratio of 44.89, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s payout ratio is currently 1.36%.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction 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 $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,107,632 shares of company stock valued at $146,405,286 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NVDA. Needham & Company LLC reissued a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research report on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Thursday, February 27th. Redburn Atlantic initiated coverage on NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective on the stock. TD Cowen raised 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. Finally, Susquehanna boosted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Five equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $169.62.

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.