Carmel Capital Partners LLC Decreases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Carmel Capital Partners LLC lessened its position in NVIDIA Co. (NASDAQ:NVDA) by 23.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 901 shares of the computer hardware maker’s stock after selling 269 shares during the period. Carmel Capital Partners LLC’s holdings in NVIDIA were worth $446,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of NVDA. LFA Lugano Financial Advisors SA bought a new position in NVIDIA in the 4th quarter worth $28,000. Your Advocates Ltd. LLP purchased a new stake in NVIDIA in the third quarter worth about $30,000. Trivant Custom Portfolio Group LLC boosted its position in NVIDIA by 44.1% during the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after acquiring an additional 30 shares in the last quarter. O Brien Wealth Partners LLC grew its holdings in shares of NVIDIA by 139.5% during the 4th quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock worth $45,000 after acquiring an additional 53 shares during the period. Finally, Beacon Capital Management Inc. bought a new position in shares of NVIDIA in the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Raymond James lifted their price target on NVIDIA from $850.00 to $1,100.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 11th. Wolfe Research upped their target price on shares of NVIDIA from $630.00 to $900.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. DA Davidson increased their price target on shares of NVIDIA from $410.00 to $620.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Rosenblatt Securities restated a “buy” rating and issued a $1,100.00 price objective on shares of NVIDIA in a report on Tuesday, February 20th. Finally, Benchmark reiterated a “buy” rating and set a $1,000.00 target price on shares of NVIDIA in a report on Wednesday, March 20th. 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $940.30.

NVIDIA Price Performance

NASDAQ NVDA opened at $877.57 on Tuesday. The stock has a market cap of $2.19 trillion, a price-to-earnings ratio of 73.50, a PEG ratio of 1.26 and a beta of 1.73. NVIDIA Co. has a 12 month low of $272.40 and a 12 month high of $974.00. The company’s 50 day moving average is $857.43 and its two-hundred day moving average is $640.64. 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 (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter in the prior year, the firm posted $0.65 EPS. NVIDIA’s quarterly revenue was up 265.3% compared to the same quarter last year. As a group, research analysts anticipate that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Activity

In related news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the sale, the director now owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the transaction, the insider now 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 have sold a total of 61,278 shares of company stock worth $52,689,898 over the last quarter. Insiders own 3.99% of the company’s stock.

NVIDIA 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.