Carnegie Lake Advisors LLC Reduces Holdings in NVIDIA Co. (NASDAQ:NVDA)

Carnegie Lake Advisors LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 44.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 5,035 shares of the computer hardware maker’s stock after selling 3,955 shares during the period. Carnegie Lake Advisors LLC’s holdings in NVIDIA were worth $676,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA during the 4th quarter worth approximately $34,000. Luken Investment Analytics LLC acquired a new position in NVIDIA in the 4th quarter worth $40,000. DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares in the last quarter. Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA in the 4th quarter worth about $46,000. Finally, 1620 Investment Advisors Inc. boosted its holdings in shares of NVIDIA by 145.9% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after buying an additional 248 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Down 0.1 %

NVDA opened at $115.58 on Friday. The firm has a 50-day simple moving average of $129.71 and a two-hundred day simple moving average of $131.20. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The company has a market capitalization of $2.82 trillion, a PE ratio of 45.49, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $38.16 billion. Analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company 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 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 0.03%. NVIDIA’s dividend payout ratio is presently 1.36%.

Analysts Set New Price Targets

NVDA has been the topic of several research analyst reports. Stifel Nicolaus raised their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Barclays raised their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, TD Cowen boosted their price target on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four research 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 company. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $171.69.

Insider Activity

In related news, EVP Ajay K. Puri sold 36,462 shares of the firm’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 of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,039,125 shares of company stock valued at $137,062,338. 4.23% of the stock is currently owned by insiders.

About NVIDIA

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.