NVIDIA Co. (NASDAQ:NVDA) Stock Holdings Lessened by Summit Asset Management LLC

Summit Asset Management LLC cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,421 shares of the computer hardware maker’s stock after selling 1,830 shares during the quarter. NVIDIA accounts for 1.4% of Summit Asset Management LLC’s portfolio, making the stock its 20th largest holding. Summit Asset Management LLC’s holdings in NVIDIA were worth $7,711,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of NVDA. Legend Financial Advisors Inc. purchased a new position in NVIDIA in the 4th quarter worth about $34,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA in the fourth quarter worth about $40,000. DHJJ Financial Advisors Ltd. increased its position 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 worth $41,000 after acquiring an additional 140 shares in the last quarter. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the fourth quarter valued at approximately $46,000. Finally, 1620 Investment Advisors Inc. lifted its position in shares of NVIDIA by 145.9% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after acquiring an additional 248 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NASDAQ NVDA opened at $109.67 on Friday. The company’s fifty day moving average is $125.01 and its two-hundred day moving average is $131.50. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $195.95. 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 has a market capitalization of $2.68 trillion, a price-to-earnings ratio of 43.16, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (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 analyst estimates of $38.16 billion. Equities research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The company 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. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Analysts Set New Price Targets

Several research firms have weighed in on NVDA. Morgan Stanley set a $162.00 price objective on shares of NVIDIA and gave the stock an “overweight” rating in a research report on Wednesday, March 19th. Barclays upped their price target on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Summit Insights downgraded NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Finally, Mizuho decreased their target price on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Four 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 company’s stock. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now directly owns 479,428 shares of the company’s stock, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was 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 directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. The trade was a 17.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,609 shares of company stock worth $22,642,615 over the last 90 days. Corporate insiders own 4.23% 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.