NVIDIA Co. (NASDAQ:NVDA) is Argus Investors Counsel Inc.’s 3rd Largest Position

Argus Investors Counsel Inc. cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 36,731 shares of the computer hardware maker’s stock after selling 1,964 shares during the period. NVIDIA comprises 3.3% of Argus Investors Counsel Inc.’s holdings, making the stock its 3rd largest holding. Argus Investors Counsel Inc.’s holdings in NVIDIA were worth $4,933,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA during the 3rd quarter valued at approximately $27,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA during the fourth quarter worth $34,000. West Financial Advisors LLC purchased a new position in NVIDIA during the third quarter worth $36,000. Luken Investment Analytics LLC bought a new position in NVIDIA during the fourth quarter valued at $40,000. Finally, DHJJ Financial Advisors Ltd. raised its stake 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 valued at $41,000 after acquiring an additional 140 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NVDA shares. Barclays raised their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Stifel Nicolaus increased their price target on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Phillip Securities reiterated an “accumulate” rating and issued a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $162.00 target price (up from $152.00) on shares of NVIDIA in a research note on Wednesday, February 26th. Four 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 company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $171.69.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares in the company, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred 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 owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. The trade was 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 worth $146,405,286 in the last ninety days. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NVDA opened at $112.69 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.75 trillion, a price-to-earnings ratio of 44.35, a PEG ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $153.13. The business has a 50 day moving average of $131.66 and a 200-day moving average of $131.63.

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

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

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.