Courier Capital LLC Sells 7,796 Shares of NVIDIA Co. (NASDAQ:NVDA)

Courier Capital LLC reduced its holdings in NVIDIA Co. (NASDAQ:NVDA) by 17.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 36,834 shares of the computer hardware maker’s stock after selling 7,796 shares during the quarter. Courier Capital LLC’s holdings in NVIDIA were worth $4,946,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Quest Partners LLC bought a new stake in shares of NVIDIA during the second quarter valued at approximately $27,000. Christopher J. Hasenberg Inc bought a new stake in NVIDIA during the third quarter worth about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA in the second quarter worth about $31,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $34,000. Finally, West Financial Advisors LLC bought a new position in NVIDIA during the 3rd quarter valued at approximately $36,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last 90 days. 4.23% of the stock is owned by corporate insiders.

NVIDIA Trading Down 4.3 %

NVIDIA stock opened at $123.43 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm’s 50 day moving average price is $137.91 and its 200-day moving average price is $129.44. NVIDIA Co. has a 1 year low of $60.70 and a 1 year high of $153.13. The stock has a market cap of $3.02 trillion, a P/E ratio of 48.58, a PEG ratio of 2.65 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 earnings per share. On average, equities analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Analyst Upgrades and Downgrades

NVDA has been the subject of several analyst reports. Tigress Financial upgraded NVIDIA from a “buy” rating to a “strong-buy” rating and raised their price target for the company from $170.00 to $220.00 in a report on Tuesday. Evercore ISI increased their price target on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Truist Financial boosted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Morgan Stanley cut their target price on NVIDIA from $166.00 to $152.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Melius Research upped their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $166.23.

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.