ZWJ Investment Counsel Inc. Decreases Position in NVIDIA Co. (NASDAQ:NVDA)

ZWJ Investment Counsel Inc. cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 11.8% in the fourth quarter, HoldingsChannel reports. The fund owned 106,861 shares of the computer hardware maker’s stock after selling 14,273 shares during the period. NVIDIA makes up approximately 2.7% of ZWJ Investment Counsel Inc.’s holdings, making the stock its 7th largest holding. ZWJ Investment Counsel Inc.’s holdings in NVIDIA were worth $52,920,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in NVDA. Lodestar Private Asset Management LLC boosted its stake in NVIDIA by 1.0% during the fourth quarter. Lodestar Private Asset Management LLC now owns 1,652 shares of the computer hardware maker’s stock worth $818,000 after buying an additional 17 shares during the period. Campbell Newman Asset Management Inc. boosted its stake 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 during the period. Aprio Wealth Management LLC raised its position in NVIDIA by 1.8% in 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 during the period. Palumbo Wealth Management LLC lifted its stake in NVIDIA by 0.7% in the fourth quarter. Palumbo Wealth Management LLC now owns 2,816 shares of the computer hardware maker’s stock worth $1,395,000 after purchasing an additional 19 shares during the last quarter. Finally, Corundum Group Inc. boosted its position in shares of NVIDIA by 0.8% during the fourth 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 during the period. 65.27% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Bank of America raised their price target on NVIDIA from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. CICC Research started coverage on shares of NVIDIA in a research note on Wednesday, March 6th. They set an “outperform” rating and a $870.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of NVIDIA from $720.00 to $850.00 and gave the stock a “hold” rating in a research note on Wednesday, March 20th. Sanford C. Bernstein lifted their price objective on shares of NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Finally, Piper Sandler Companies upped their target price on shares of NVIDIA to $850.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $940.30.

NVIDIA Trading Up 6.2 %

NASDAQ NVDA opened at $877.35 on Monday. The stock has a market cap of $2.19 trillion, a P/E ratio of 73.48, a P/E/G ratio of 1.26 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 $266.25 and a 12-month high of $974.00. The company has a fifty day simple moving average of $854.40 and a two-hundred day simple moving average of $637.76.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. The company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.65 EPS. On average, analysts forecast that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were paid a dividend of $0.04 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s payout ratio is currently 1.34%.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the transaction, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $410,229.00. Following the sale, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,278 shares of company stock worth $52,689,898. Insiders own 3.99% of the company’s stock.

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.