Freedom Investment Management Inc. Sells 6,976 Shares of NVIDIA Co. (NASDAQ:NVDA)

Freedom Investment Management Inc. lowered its holdings in NVIDIA Co. (NASDAQ:NVDA) by 7.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,081 shares of the computer hardware maker’s stock after selling 6,976 shares during the period. NVIDIA comprises about 0.8% of Freedom Investment Management Inc.’s portfolio, making the stock its 23rd largest holding. Freedom Investment Management Inc.’s holdings in NVIDIA were worth $10,211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NVDA. Capital Counsel LLC NY increased its position in shares of NVIDIA by 10.6% during the 3rd quarter. Capital Counsel LLC NY now owns 3,085 shares of the computer hardware maker’s stock worth $375,000 after purchasing an additional 295 shares during the last quarter. NCP Inc. grew its stake in shares of NVIDIA by 14.6% in the third quarter. NCP Inc. now owns 206,065 shares of the computer hardware maker’s stock valued at $25,025,000 after buying an additional 26,175 shares in the last quarter. Baldwin Investment Management LLC grew its stake in shares of NVIDIA by 5.6% in the third quarter. Baldwin Investment Management LLC now owns 120,981 shares of the computer hardware maker’s stock valued at $14,692,000 after buying an additional 6,379 shares in the last quarter. Carlson Capital Management increased its holdings in NVIDIA by 50.4% during the third quarter. Carlson Capital Management now owns 8,708 shares of the computer hardware maker’s stock worth $1,057,000 after buying an additional 2,917 shares during the last quarter. Finally, Thematics Asset Management raised its position in NVIDIA by 4.7% during the third quarter. Thematics Asset Management now owns 1,073,918 shares of the computer hardware maker’s stock worth $130,417,000 after acquiring an additional 48,158 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVDA. Needham & Company LLC lifted their price objective on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Robert W. Baird lifted their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Benchmark restated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Tuesday, January 7th. Oppenheimer reiterated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Finally, Evercore ISI increased their price target on NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

NVIDIA Trading Down 3.0 %

Shares of NVIDIA stock opened at $135.91 on Monday. The firm’s 50 day moving average is $139.90 and its 200 day moving average is $128.70. The firm has a market capitalization of $3.33 trillion, a PE ratio of 53.49, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 1 year low of $53.56 and a 1 year high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the business earned $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. Equities research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. 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 payout ratio is 1.57%.

Insider Transactions at NVIDIA

In other news, 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 transaction 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. The trade was a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

NVIDIA 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.