Asset Dedication LLC Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Asset Dedication LLC lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 28.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 117,027 shares of the computer hardware maker’s stock after selling 46,229 shares during the quarter. NVIDIA comprises approximately 1.2% of Asset Dedication LLC’s portfolio, making the stock its 14th biggest position. Asset Dedication LLC’s holdings in NVIDIA were worth $15,716,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Christopher J. Hasenberg Inc purchased a new position in NVIDIA in the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA in the second quarter worth about $31,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA in the fourth quarter worth about $34,000. West Financial Advisors LLC purchased a new position in NVIDIA in the third quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its position in 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 purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NVDA. Truist Financial raised their target price on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. lifted their price objective on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Robert W. Baird lifted their price objective on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Wedbush reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research report on Thursday. Finally, Susquehanna lifted their price objective on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $168.21.

Insiders Place Their Bets

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

Shares of NVDA opened at $134.35 on Friday. The firm has a market cap of $3.29 trillion, a PE ratio of 52.87, a P/E/G ratio of 1.76 and a beta of 1.62. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a fifty day simple moving average of $134.66 and a two-hundred day simple moving average of $131.33. NVIDIA Co. has a 1-year low of $74.22 and a 1-year high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 EPS. On average, equities analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

About NVIDIA

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.