McGowan Group Asset Management Inc. Sells 981 Shares of NVIDIA Co. (NASDAQ:NVDA)

McGowan Group Asset Management Inc. reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 14.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,008 shares of the computer hardware maker’s stock after selling 981 shares during the period. McGowan Group Asset Management Inc.’s holdings in NVIDIA were worth $807,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Tacita Capital Inc purchased a new position in NVIDIA in the 4th quarter worth approximately $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA in the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA during the 4th quarter valued at about $40,000. LSV Asset Management bought a new stake in shares of NVIDIA during the fourth quarter valued at approximately $54,000. Finally, Gleason Group Inc. boosted its stake in NVIDIA by 52.9% during the fourth quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker’s stock worth $58,000 after acquiring an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 3.2%

Shares of NVIDIA stock opened at $135.50 on Wednesday. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $195.95. The firm has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.33, a PEG ratio of 1.76 and a beta of 2.11. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm’s 50 day simple moving average is $114.51 and its two-hundred day simple moving average is $126.60.

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

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Arete Research upgraded shares of NVIDIA to a “strong-buy” rating in a research note on Wednesday, May 21st. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. KeyCorp set a $190.00 price objective on NVIDIA in a research report on Wednesday, March 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $167.53.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now directly owns 479,428 shares of the company’s stock, valued at $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This trade represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,147 shares of company stock valued at $17,133,207. Corporate insiders own 4.17% 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.