Carnegie Investment Counsel Sells 11,748 Shares of NVIDIA Co. (NASDAQ:NVDA)

Carnegie Investment Counsel reduced its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 732,553 shares of the computer hardware maker’s stock after selling 11,748 shares during the quarter. NVIDIA makes up approximately 2.8% of Carnegie Investment Counsel’s holdings, making the stock its 3rd largest holding. Carnegie Investment Counsel’s holdings in NVIDIA were worth $98,375,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ironwood Wealth Management LLC. increased its position in shares of NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after buying an additional 5,695 shares in the last quarter. Financial Guidance Group Inc. increased its position in shares of NVIDIA by 900.0% in the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock valued at $445,000 after buying an additional 3,240 shares in the last quarter. University of Texas Texas AM Investment Management Co. bought a new stake in shares of NVIDIA in the 2nd quarter valued at $31,000. 9258 Wealth Management LLC increased its position in shares of NVIDIA by 899.1% in the 2nd quarter. 9258 Wealth Management LLC now owns 419,201 shares of the computer hardware maker’s stock valued at $51,788,000 after buying an additional 377,243 shares in the last quarter. Finally, Hudock Inc. increased its position in shares of NVIDIA by 906.9% in the 2nd quarter. Hudock Inc. now owns 23,198 shares of the computer hardware maker’s stock valued at $2,866,000 after buying an additional 20,894 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 over the last three months. 4.23% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on NVDA shares. Truist Financial upped their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. increased their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Evercore ISI increased their target price on NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Raymond James increased their target price on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Finally, Robert W. Baird increased their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $166.23.

NVIDIA Stock Down 2.8 %

Shares of NVDA opened at $116.66 on Tuesday. NVIDIA Co. has a 12 month low of $66.25 and a 12 month high of $153.13. The firm’s 50 day moving average is $136.58 and its 200-day moving average is $129.41. The stock has a market capitalization of $2.86 trillion, a PE ratio of 45.91, a P/E/G ratio of 2.16 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the firm earned $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors 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 yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 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.