Sherman Asset Management Inc. Buys Shares of 6,953 NVIDIA Co. (NASDAQ:NVDA)

Sherman Asset Management Inc. purchased a new stake in NVIDIA Co. (NASDAQ:NVDA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,953 shares of the computer hardware maker’s stock, valued at approximately $934,000. NVIDIA accounts for 0.9% of Sherman Asset Management Inc.’s investment portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds also recently made changes to their positions in the business. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the 4th quarter valued at about $34,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA during the fourth quarter valued at approximately $40,000. Lowe Wealth Advisors LLC bought a new stake in NVIDIA during the fourth quarter worth approximately $46,000. 1620 Investment Advisors Inc. lifted its position in NVIDIA by 145.9% in the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock worth $51,000 after purchasing an additional 248 shares during the period. Finally, Gleason Group Inc. boosted its stake in NVIDIA by 52.9% during the 4th quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker’s stock valued at $58,000 after purchasing an additional 148 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the transaction, the director now owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the sale, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 183,609 shares of company stock valued at $22,642,615 over the last quarter. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 7.4 %

Shares of NASDAQ NVDA opened at $94.31 on Friday. The business has a 50 day simple moving average of $121.20 and a 200 day simple moving average of $131.07. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $195.95. The stock has a market cap of $2.30 trillion, a price-to-earnings ratio of 37.12, a PEG ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last posted its earnings results 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. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Bank of America restated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Barclays boosted their price target on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Mizuho reduced their price objective on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the stock an “overweight” rating in a report on Wednesday, March 19th. Finally, William Blair reissued an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Six analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $169.89.

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.