Notis McConarty Edward Reduces Holdings in NVIDIA Co. (NASDAQ:NVDA)

Notis McConarty Edward cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 88,135 shares of the computer hardware maker's stock after selling 9,069 shares during the quarter. NVIDIA makes up 5.7% of Notis McConarty Edward's investment portfolio, making the stock its 2nd largest holding. Notis McConarty Edward's holdings in NVIDIA were worth $11,836,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NVDA. Tacita Capital Inc purchased a new position in NVIDIA in the fourth quarter valued at about $28,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA in the fourth quarter valued at approximately $34,000. Vision Financial Markets LLC bought a new position in NVIDIA during the fourth quarter valued at $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA in the fourth quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA during the 4th quarter valued at $46,000. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Down 0.2 %

Shares of NASDAQ NVDA opened at $113.54 on Wednesday. The firm has a market cap of $2.77 trillion, a price-to-earnings ratio of 44.68, a PEG ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $195.95. 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 business's 50 day moving average is $110.37 and its two-hundred day moving average is $127.81.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted 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 business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Research analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio is presently 1.36%.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11 % 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 Aarti S. Shah sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 147,147 shares of company stock valued at $17,133,207. Insiders own 4.23% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays reduced their price objective on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research report on Friday, April 25th. Wedbush reissued an "outperform" rating and issued a $175.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. Rosenblatt Securities decreased their price target on shares of NVIDIA from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Finally, HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, NVIDIA presently has an average rating of "Moderate Buy" and a consensus price target of $164.96.

NVIDIA Company 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.

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