NVIDIA Co. (NASDAQ:NVDA) Stake Trimmed by Counterweight Ventures LLC

Counterweight Ventures LLC lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 30.4% during the third quarter, HoldingsChannel reports. The firm owned 49,220 shares of the computer hardware maker’s stock after selling 21,464 shares during the period. NVIDIA comprises 4.2% of Counterweight Ventures LLC’s holdings, making the stock its 4th biggest position. Counterweight Ventures LLC’s holdings in NVIDIA were worth $5,977,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Quest Partners LLC acquired a new stake in shares of NVIDIA during the 2nd quarter worth about $27,000. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA during the 3rd quarter worth about $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA during the 2nd quarter worth about $31,000. West Financial Advisors LLC acquired a new stake in shares of NVIDIA during the 3rd quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. increased 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 purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Needham & Company LLC lifted their target price on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. The Goldman Sachs Group lifted their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Phillip Securities reaffirmed an “accumulate” rating and issued a $160.00 target price (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. TD Cowen lifted their target price on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Raymond James lifted their target price on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

Insiders Place Their Bets

In other news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction 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. The trade was a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 155,000 shares of the business’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the sale, the director now directly owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,226,886 shares of company stock worth $161,499,400. 4.23% of the stock is owned by company insiders.

NVIDIA Price Performance

Shares of NVDA opened at $144.47 on Monday. The firm has a market cap of $3.54 trillion, a price-to-earnings ratio of 56.86, a PEG ratio of 2.43 and a beta of 1.63. The stock has a 50 day moving average of $139.57 and a 200-day moving average of $128.15. 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 Co. has a 52 week low of $47.51 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the firm earned $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. As a group, analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

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.