Asset Dedication LLC Trims Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Asset Dedication LLC lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 28.3% in the 4th quarter, HoldingsChannel reports. The firm owned 117,027 shares of the computer hardware maker’s stock after selling 46,229 shares during the quarter. NVIDIA makes up approximately 1.2% of Asset Dedication LLC’s holdings, making the stock its 14th largest holding. Asset Dedication LLC’s holdings in NVIDIA were worth $15,716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC raised its holdings in shares of NVIDIA by 2.2% during the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after purchasing an additional 11,525,969 shares during the last quarter. Legal & General Group Plc grew its position in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after buying an additional 191,469,114 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock valued at $21,908,236,000 after buying an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. grew its position in NVIDIA by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after buying an additional 2,042,348 shares during the period. Finally, Ameriprise Financial Inc. grew its position in NVIDIA by 870.3% during the second quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of several analyst reports. Robert W. Baird raised their price target on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Rosenblatt Securities restated a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research report on Wednesday, January 8th. DA Davidson raised their price target on shares of NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Stifel Nicolaus lifted their target price on shares of NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

Insider Activity at NVIDIA

In other news, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last quarter. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

Shares of NVDA stock opened at $134.35 on Friday. 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 company has a market capitalization of $3.29 trillion, a P/E ratio of 52.87, a price-to-earnings-growth ratio of 1.76 and a beta of 1.62. The company’s 50 day moving average price is $134.66 and its two-hundred day moving average price is $131.33. NVIDIA Co. has a 52 week low of $74.22 and a 52 week high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced 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 analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 earnings per share. On average, analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

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.