Denali Advisors LLC Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Denali Advisors LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 289,265 shares of the computer hardware maker’s stock after selling 1,231 shares during the period. NVIDIA comprises approximately 4.1% of Denali Advisors LLC’s investment portfolio, making the stock its 3rd biggest position. Denali Advisors LLC’s holdings in NVIDIA were worth $38,845,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in NVDA. Legend Financial Advisors Inc. acquired a new stake in NVIDIA during the 4th quarter worth about $34,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA in the fourth quarter worth approximately $40,000. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the fourth quarter worth approximately $46,000. 1620 Investment Advisors Inc. raised its holdings in shares of NVIDIA by 145.9% during the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after acquiring an additional 248 shares during the period. Finally, Gleason Group Inc. lifted its position in shares of NVIDIA by 52.9% in the 4th quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker’s stock valued at $58,000 after acquiring an additional 148 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 1.6 %

Shares of NASDAQ:NVDA opened at $110.15 on Wednesday. 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 stock’s 50-day moving average is $123.81 and its 200-day moving average is $131.47. The company has a market cap of $2.69 trillion, a P/E ratio of 43.35, a P/E/G ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $195.95.

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

NVIDIA Announces Dividend

The business also recently announced 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. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s payout ratio is currently 1.36%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This represents a 27.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now directly owns 479,428 shares in the company, valued at $55,997,190.40. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 183,609 shares of company stock valued at $22,642,615 in the last ninety days. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NVDA shares. Bank of America reiterated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Morgan Stanley set a $162.00 price target on NVIDIA and gave the company an “overweight” rating in a report on Wednesday, March 19th. Mizuho reduced their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research note on Wednesday, March 19th. Finally, DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA 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.