Townsend Asset Management Corp NC ADV Sells 129 Shares of NVIDIA Co. (NASDAQ:NVDA)

Townsend Asset Management Corp NC ADV trimmed its stake in NVIDIA Co. (NASDAQ:NVDA) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,138 shares of the computer hardware maker’s stock after selling 129 shares during the period. NVIDIA accounts for 1.2% of Townsend Asset Management Corp NC ADV’s portfolio, making the stock its 26th largest position. Townsend Asset Management Corp NC ADV’s holdings in NVIDIA were worth $3,241,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in NVDA. Tacita Capital Inc acquired a new position in shares of NVIDIA during the fourth quarter worth $28,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA during the 4th quarter worth $34,000. Vision Financial Markets LLC purchased a new position in NVIDIA during the 4th quarter worth $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the fourth quarter valued at about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the fourth quarter worth about $46,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Down 5.9 %

Shares of NVDA opened at $107.57 on Friday. The firm’s fifty day moving average is $119.10 and its two-hundred day moving average is $130.45. The stock has a market cap of $2.62 trillion, a PE ratio of 42.33, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $195.95.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 55.69% and a return on equity of 114.83%. Research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio is presently 1.36%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on NVDA. Hsbc Global Res downgraded shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Finally, KeyCorp set a $190.00 price target on NVIDIA in a research note on Wednesday, March 19th. Six equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $169.01.

Insider Activity at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of the firm’s 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 directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is currently owned by insiders.

NVIDIA Company 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.