NVIDIA Co. (NASDAQ:NVDA) Position Decreased by Cohen Klingenstein LLC

Cohen Klingenstein LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA) by 35.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 465,320 shares of the computer hardware maker’s stock after selling 260,030 shares during the period. NVIDIA comprises approximately 2.1% of Cohen Klingenstein LLC’s investment portfolio, making the stock its 9th biggest holding. Cohen Klingenstein LLC’s holdings in NVIDIA were worth $62,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Ironwood Wealth Management LLC. raised its holdings in shares of NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after purchasing an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. grew its position in NVIDIA by 900.0% during the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after purchasing an additional 3,240 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA during the 2nd quarter valued at about $31,000. Parcion Private Wealth LLC lifted its holdings in shares of NVIDIA by 897.0% in the 2nd quarter. Parcion Private Wealth LLC now owns 183,031 shares of the computer hardware maker’s stock valued at $22,612,000 after buying an additional 164,672 shares during the period. Finally, Norden Group LLC boosted its stake in shares of NVIDIA by 1,055.3% in the second quarter. Norden Group LLC now owns 124,051 shares of the computer hardware maker’s stock worth $15,325,000 after buying an additional 113,313 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Trading Up 3.1 %

Shares of NVIDIA stock opened at $128.68 on Friday. The stock has a 50 day moving average of $135.62 and a 200 day moving average of $129.35. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market capitalization of $3.15 trillion, a price-to-earnings ratio of 50.64, a PEG ratio of 2.16 and a beta of 1.62. NVIDIA Co. has a fifty-two week low of $66.25 and a fifty-two week high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.38 EPS. As a group, research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid 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 1.57%.

Insider Transactions at NVIDIA

In other news, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on NVDA. JPMorgan Chase & Co. boosted their price target on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Susquehanna boosted their target price on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Bank of America restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Truist Financial increased their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Stifel Nicolaus lifted their price target on NVIDIA from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.