Chaney Capital Management Inc. Has $977,000 Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Chaney Capital Management Inc. trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,275 shares of the computer hardware maker’s stock after selling 149 shares during the quarter. NVIDIA accounts for 0.5% of Chaney Capital Management Inc.’s portfolio, making the stock its 21st largest position. Chaney Capital Management Inc.’s holdings in NVIDIA were worth $977,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Christopher J. Hasenberg Inc bought a new stake in NVIDIA during the third quarter worth $27,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA in the fourth quarter valued at approximately $34,000. West Financial Advisors LLC acquired a new position in NVIDIA in the third quarter valued at about $36,000. Luken Investment Analytics LLC acquired a new stake in shares of NVIDIA during the 4th quarter worth approximately $40,000. Finally, DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of several recent research reports. Bank of America raised their price objective on NVIDIA from $190.00 to $200.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Melius Research increased their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. UBS Group lifted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a report on Monday, February 24th. Finally, Susquehanna boosted their price target on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $171.69.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 28,671,360 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,107,632 shares of company stock valued at $146,405,286 over the last three months. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Down 5.1 %

NVIDIA stock opened at $106.98 on Tuesday. The company’s 50-day moving average price is $131.05 and its two-hundred day moving average price is $131.57. The stock has a market cap of $2.61 trillion, a price-to-earnings ratio of 42.10, a PEG ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. 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 issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating 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 company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. On average, analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

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.