Ironwood Investment Counsel LLC Trims Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Ironwood Investment Counsel LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 34,964 shares of the computer hardware maker’s stock after selling 2,329 shares during the period. Ironwood Investment Counsel LLC’s holdings in NVIDIA were worth $4,246,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of NVDA. Hoertkorn Richard Charles increased its holdings in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after purchasing an additional 70 shares during the last quarter. Smart Portfolios LLC grew its holdings in NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after buying an additional 75 shares in the last quarter. Palisade Asset Management LLC increased its stake in NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after buying an additional 75 shares during the period. Total Wealth Planning LLC increased its position in shares of NVIDIA by 3.6% during the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after purchasing an additional 78 shares during the period. Finally, Boyd Watterson Asset Management LLC OH raised its holdings in shares of NVIDIA by 0.3% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after purchasing an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Redburn Atlantic started coverage on NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price on the stock. Phillip Securities restated an “accumulate” rating and issued a $160.00 price target (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. DA Davidson lifted their target price on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Finally, UBS Group upped their price objective on NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $164.27.

Insider Activity

In related news, EVP Ajay K. Puri sold 36,462 shares of the firm’s 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 sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Performance

NASDAQ NVDA opened at $131.76 on Wednesday. The business has a fifty day moving average of $139.68 and a 200-day moving average of $128.82. 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 $3.23 trillion, a price-to-earnings ratio of 51.85, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a fifty-two week low of $54.74 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

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.