Zimmermann Investment Management & Planning LLC Sells 97,831 Shares of NVIDIA Co. (NASDAQ:NVDA)

Zimmermann Investment Management & Planning LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 98.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,000 shares of the computer hardware maker’s stock after selling 97,831 shares during the quarter. NVIDIA makes up approximately 11.9% of Zimmermann Investment Management & Planning LLC’s portfolio, making the stock its 5th biggest holding. Zimmermann Investment Management & Planning LLC’s holdings in NVIDIA were worth $269,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA during the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA during the 2nd quarter worth about $31,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA during the 4th quarter valued at $34,000. West Financial Advisors LLC acquired a new stake in shares of NVIDIA in the third quarter valued at about $36,000. Finally, Luken Investment Analytics LLC acquired a new position in shares of NVIDIA during the fourth quarter worth $40,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction on Friday, December 13th. The shares were 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 approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares in the company, valued at $65,056,016.72. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,107,632 shares of company stock worth $146,405,286 over the last three months. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NVDA. TD Cowen upped 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. Stifel Nicolaus increased their price objective on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Wedbush restated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, February 20th. Bank of America restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Finally, Needham & Company LLC raised their price objective on NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.21.

NVIDIA Stock Up 3.7 %

Shares of NVDA opened at $131.28 on Thursday. The company has a 50-day simple moving average of $134.60 and a 200-day simple moving average of $131.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The firm has a market capitalization of $3.22 trillion, a P/E ratio of 51.66, a P/E/G ratio of 1.76 and a beta of 1.62.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is 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.