Charter Oak Capital Management LLC Cuts Position in NVIDIA Co. (NASDAQ:NVDA)

Charter Oak Capital Management LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 3.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,647 shares of the computer hardware maker’s stock after selling 317 shares during the quarter. Charter Oak Capital Management LLC’s holdings in NVIDIA were worth $1,161,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc acquired a new position in shares of NVIDIA in the third quarter worth $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA in the second quarter worth $31,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA in the fourth quarter worth $34,000. West Financial Advisors LLC acquired a new position in shares of NVIDIA in the third quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 70.0% in 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 in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This 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 the SEC website. 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 sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on NVDA shares. Needham & Company LLC boosted their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Benchmark reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note on Tuesday, January 7th. Barclays boosted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Piper Sandler boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Finally, Evercore ISI boosted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. 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. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $168.21.

NVIDIA Trading Down 4.1 %

NASDAQ NVDA opened at $134.35 on Friday. The stock has a market capitalization of $3.29 trillion, a P/E ratio of 52.87, a P/E/G ratio of 1.75 and a beta of 1.62. NVIDIA Co. has a 52-week low of $74.22 and a 52-week high of $153.13. The firm has a 50-day moving average price of $134.66 and a 200 day moving average price of $131.14. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 analyst estimates of $33.15 billion. During the same period in the prior year, the business posted $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% compared to the same quarter last year. Equities research analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

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.