Essex LLC Sells 230 Shares of NVIDIA Co. (NASDAQ:NVDA)

Essex LLC trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 2.8% during the fourth quarter, Holdings Channel reports. The fund owned 7,932 shares of the computer hardware maker’s stock after selling 230 shares during the quarter. NVIDIA accounts for 1.0% of Essex LLC’s holdings, making the stock its 27th largest position. Essex LLC’s holdings in NVIDIA were worth $3,928,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NVDA. Campbell Newman Asset Management Inc. grew its holdings in shares of NVIDIA by 0.6% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 2,991 shares of the computer hardware maker’s stock worth $1,481,000 after purchasing an additional 18 shares in the last quarter. Aprio Wealth Management LLC grew its holdings in shares of NVIDIA by 1.8% during the 4th quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock worth $523,000 after purchasing an additional 19 shares in the last quarter. Palumbo Wealth Management LLC boosted its stake in NVIDIA by 0.7% in the 4th quarter. Palumbo Wealth Management LLC now owns 2,816 shares of the computer hardware maker’s stock valued at $1,395,000 after buying an additional 19 shares in the last quarter. Corundum Group Inc. boosted its stake in NVIDIA by 0.8% in the 4th quarter. Corundum Group Inc. now owns 2,380 shares of the computer hardware maker’s stock valued at $1,179,000 after buying an additional 19 shares in the last quarter. Finally, North Star Investment Management Corp. boosted its stake in NVIDIA by 0.3% in the 4th quarter. North Star Investment Management Corp. now owns 6,994 shares of the computer hardware maker’s stock valued at $3,463,000 after buying an additional 20 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Down 10.0 %

NASDAQ NVDA opened at $762.00 on Friday. The stock has a 50-day simple moving average of $844.71 and a 200 day simple moving average of $622.23. The company has a market capitalization of $1.91 trillion, a PE ratio of 63.82, a P/E/G ratio of 1.22 and a beta of 1.73. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. NVIDIA Co. has a 12 month low of $262.25 and a 12 month high of $974.00.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The business had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm’s revenue was up 265.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.65 earnings per share. Research analysts forecast that NVIDIA Co. will post 22.45 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is currently 1.34%.

Analysts Set New Price Targets

NVDA has been the topic of several recent analyst reports. Piper Sandler boosted their price target on NVIDIA from $850.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Needham & Company LLC boosted their price target on NVIDIA from $600.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Jefferies Financial Group boosted their price target on NVIDIA from $610.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Tigress Financial boosted their price target on NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on NVIDIA from $720.00 to $850.00 and gave the company a “hold” rating in a research note on Wednesday, March 20th. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $940.30.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director John Dabiri sold 128 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the transaction, the director now directly owns 2,055 shares of the company’s stock, valued at $1,931,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock worth $52,689,898 over the last ninety days. 3.99% of the stock is currently owned by corporate insiders.

NVIDIA Company 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.