Archer Investment Corp Decreases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Archer Investment Corp decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,005 shares of the computer hardware maker’s stock after selling 673 shares during the period. NVIDIA comprises approximately 0.9% of Archer Investment Corp’s investment portfolio, making the stock its 22nd largest holding. Archer Investment Corp’s holdings in NVIDIA were worth $3,492,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Live Oak Private Wealth LLC lifted its holdings in NVIDIA by 15.8% in the 4th quarter. Live Oak Private Wealth LLC now owns 8,619 shares of the computer hardware maker’s stock valued at $1,157,000 after purchasing an additional 1,173 shares in the last quarter. FFG Partners LLC lifted its holdings in NVIDIA by 168.6% in the 4th quarter. FFG Partners LLC now owns 338,245 shares of the computer hardware maker’s stock valued at $45,423,000 after purchasing an additional 212,295 shares in the last quarter. SMART Wealth LLC lifted its holdings in NVIDIA by 289.5% in the 4th quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock valued at $9,711,000 after purchasing an additional 53,747 shares in the last quarter. Lodestar Private Asset Management LLC lifted its holdings in NVIDIA by 1.3% in the 4th quarter. Lodestar Private Asset Management LLC now owns 20,923 shares of the computer hardware maker’s stock valued at $2,810,000 after purchasing an additional 264 shares in the last quarter. Finally, Fairvoy Private Wealth LLC acquired a new stake in shares of NVIDIA in the 4th quarter worth $4,478,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 1.9 %

Shares of NVDA stock opened at $112.69 on Friday. The business’s fifty day moving average price is $131.66 and its 200 day moving average price is $131.66. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $153.13. The firm has a market capitalization of $2.75 trillion, a PE ratio of 44.35, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is 1.36%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NVDA. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research note on Thursday, February 20th. Piper Sandler raised their target price on NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Stifel Nicolaus raised their target price on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Citigroup raised their target price on NVIDIA from $170.00 to $175.00 and gave the stock a “buy” 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 given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $171.69.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction 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 in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, December 13th. The stock was 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 owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,107,632 shares of company stock worth $146,405,286. 4.23% of the stock is owned by corporate insiders.

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.