Obermeyer Wood Investment Counsel Lllp Has $10.99 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Obermeyer Wood Investment Counsel Lllp reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 3.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 22,199 shares of the computer hardware maker’s stock after selling 747 shares during the period. Obermeyer Wood Investment Counsel Lllp’s holdings in NVIDIA were worth $10,993,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Moody Lynn & Lieberson LLC grew its stake in shares of NVIDIA by 7.2% during the third quarter. Moody Lynn & Lieberson LLC now owns 89,053 shares of the computer hardware maker’s stock worth $38,737,000 after purchasing an additional 5,998 shares during the period. TrueMark Investments LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth $2,639,000. McLean Asset Management Corp grew its stake in shares of NVIDIA by 11.7% during the fourth quarter. McLean Asset Management Corp now owns 1,773 shares of the computer hardware maker’s stock worth $871,000 after purchasing an additional 186 shares during the period. Cornercap Investment Counsel Inc. grew its stake in shares of NVIDIA by 5.7% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 3,900 shares of the computer hardware maker’s stock worth $1,931,000 after purchasing an additional 209 shares during the period. Finally, Shilanski & Associates Inc. grew its stake in shares of NVIDIA by 15.9% during the fourth quarter. Shilanski & Associates Inc. now owns 2,983 shares of the computer hardware maker’s stock worth $1,477,000 after purchasing an additional 410 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director John Dabiri sold 128 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now owns 2,055 shares of the company’s stock, valued at $1,931,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John Dabiri sold 128 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now owns 2,055 shares of the company’s stock, valued at $1,931,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the transaction, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is owned by insiders.

NVIDIA Price Performance

NASDAQ:NVDA opened at $877.35 on Friday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The stock’s 50 day moving average price is $854.40 and its two-hundred day moving average price is $636.58. The firm has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 73.48, a P/E/G ratio of 1.18 and a beta of 1.73. NVIDIA Co. has a 12-month low of $266.25 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 earnings per share. On average, analysts anticipate that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on NVDA. Mizuho lifted their price objective on NVIDIA from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Wedbush reissued an “outperform” rating and issued a $1,000.00 target price on shares of NVIDIA in a research note on Tuesday, March 19th. TD Cowen boosted their target price on NVIDIA from $900.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Piper Sandler boosted their target price on NVIDIA from $850.00 to $1,050.00 and gave the company an “overweight” rating in a research note on Wednesday, March 20th. Finally, CICC Research initiated coverage on NVIDIA in a research note on Wednesday, March 6th. They issued an “outperform” rating and a $870.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $940.30.

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.