Icon Wealth Advisors LLC Trims Stake in NVIDIA Co. (NASDAQ:NVDA)

Icon Wealth Advisors LLC lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 25.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 91,758 shares of the computer hardware maker’s stock after selling 30,573 shares during the quarter. NVIDIA makes up about 0.4% of Icon Wealth Advisors LLC’s investment portfolio, making the stock its 28th biggest position. Icon Wealth Advisors LLC’s holdings in NVIDIA were worth $11,143,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Quest Partners LLC purchased a new position in shares of NVIDIA in the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA in the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA in the 2nd quarter valued at $31,000. West Financial Advisors LLC acquired a new stake in NVIDIA in the 3rd quarter valued at $36,000. Finally, DHJJ Financial Advisors Ltd. increased its holdings in NVIDIA by 70.0% in the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last three months. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 0.0 %

NASDAQ NVDA opened at $140.11 on Thursday. NVIDIA Co. has a twelve month low of $51.69 and a twelve month high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap of $3.43 trillion, a price-to-earnings ratio of 55.14, a PEG ratio of 2.43 and a beta of 1.64. The firm’s 50 day moving average price is $139.74 and its two-hundred day moving average price is $128.46.

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

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Cantor Fitzgerald restated an “overweight” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. TD Cowen increased their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft increased their price target on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Loop Capital reissued a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Finally, The Goldman Sachs Group lifted their price target on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

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.