Gagnon Securities LLC Trims Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Gagnon Securities LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 3.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,952 shares of the computer hardware maker’s stock after selling 608 shares during the period. Gagnon Securities LLC’s holdings in NVIDIA were worth $2,679,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVDA. Christopher J. Hasenberg Inc purchased a new position in NVIDIA during the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA in the 2nd quarter worth approximately $31,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA during the 4th quarter worth approximately $34,000. West Financial Advisors LLC acquired a new stake in NVIDIA in the 3rd quarter valued at approximately $36,000. Finally, Luken Investment Analytics LLC purchased a new stake in NVIDIA in the fourth quarter valued at approximately $40,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 3.7 %

NASDAQ:NVDA opened at $131.28 on Thursday. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $153.13. 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 fifty day simple moving average of $134.60 and a 200-day simple moving average of $131.89. The company has a market capitalization of $3.22 trillion, a PE ratio of 51.66, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. 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%.

Insider Transactions at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,107,632 shares of company stock worth $146,405,286 over the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their price objective on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. boosted their price target on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Susquehanna raised their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Loop Capital reaffirmed a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Finally, Evercore ISI increased their target price on shares of NVIDIA from $189.00 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 assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

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.