Archer Investment Corp Trims Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Archer Investment Corp cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 26,005 shares of the computer hardware maker’s stock after selling 673 shares during the quarter. NVIDIA comprises about 0.9% of Archer Investment Corp’s investment portfolio, making the stock its 22nd biggest holding. Archer Investment Corp’s holdings in NVIDIA were worth $3,492,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA in the third quarter valued at about $27,000. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $34,000. West Financial Advisors LLC acquired a new stake in shares of NVIDIA in the third quarter valued at about $36,000. Luken Investment Analytics LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at about $40,000. Finally, DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on 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 in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA 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 transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,107,632 shares of company stock worth $146,405,286 in the last three months. 4.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on NVDA shares. Susquehanna increased their target price on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Tigress Financial restated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Wedbush restated an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a research note on Thursday, February 20th. Benchmark restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, February 27th. Finally, Truist Financial raised their price objective on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.69.

NVIDIA Stock Up 1.9 %

NVDA opened at $112.69 on Friday. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13. 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 stock has a market cap of $2.75 trillion, a P/E ratio of 44.35, a P/E/G ratio of 1.76 and a beta of 1.77. The stock’s 50 day moving average price is $131.66 and its 200 day moving average price is $131.66.

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

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

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.