NVIDIA Co. (NASDAQ:NVDA) Stake Trimmed by Fagan Associates Inc.

Fagan Associates Inc. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,508 shares of the computer hardware maker’s stock after selling 3,944 shares during the period. NVIDIA comprises approximately 3.5% of Fagan Associates Inc.’s investment portfolio, making the stock its 4th biggest position. Fagan Associates Inc.’s holdings in NVIDIA were worth $22,092,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA during the fourth quarter worth $34,000. Luken Investment Analytics LLC bought a new position in NVIDIA in the 4th quarter worth about $40,000. DHJJ Financial Advisors Ltd. increased its position in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 shares during the period. Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the fourth quarter valued at approximately $46,000. Finally, 1620 Investment Advisors Inc. boosted its holdings in shares of NVIDIA by 145.9% in the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after purchasing an additional 248 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Up 3.2 %

NVDA stock opened at $121.41 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm’s fifty day simple moving average is $126.68 and its 200-day simple moving average is $131.46. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13. The company has a market capitalization of $2.96 trillion, a P/E ratio of 47.78, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion for 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%. As a group, equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s payout ratio is presently 1.36%.

Analyst Ratings Changes

A number of brokerages have weighed in on NVDA. Morgan Stanley set a $162.00 target price on NVIDIA and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a report on Wednesday, March 19th. DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Bank of America restated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Four 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 MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 179,109 shares of company stock worth $22,117,015. Corporate insiders own 4.23% of the company’s stock.

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.