Beacon Capital Management LLC Trims Holdings in NVIDIA Co. (NASDAQ:NVDA)

Beacon Capital Management LLC lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 71,466 shares of the computer hardware maker’s stock after selling 1,338 shares during the period. NVIDIA accounts for approximately 1.2% of Beacon Capital Management LLC’s portfolio, making the stock its 13th largest holding. Beacon Capital Management LLC’s holdings in NVIDIA were worth $9,597,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in NVDA. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA in the fourth quarter valued at approximately $34,000. Luken Investment Analytics LLC purchased a new position in NVIDIA in the 4th quarter valued at approximately $40,000. DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 shares in the last quarter. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the fourth quarter worth $46,000. Finally, 1620 Investment Advisors Inc. raised its stake in shares of NVIDIA by 145.9% in the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after acquiring an additional 248 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the subject of a number of recent research reports. Morgan Stanley set a $162.00 price target on shares of NVIDIA and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Evercore ISI increased their target price on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Wedbush reaffirmed an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, February 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $171.76.

Insiders Place Their Bets

In related news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 92,449 shares of company stock valued at $11,960,727. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $117.52 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market cap of $2.87 trillion, a price-to-earnings ratio of 46.25, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The firm has a 50-day moving average of $127.71 and a two-hundred day moving average of $131.12. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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 issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s payout ratio is 1.36%.

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.