Abacus Wealth Partners LLC Sells 2,574 Shares of NVIDIA Co. (NASDAQ:NVDA)

Abacus Wealth Partners LLC lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,089 shares of the computer hardware maker’s stock after selling 2,574 shares during the period. NVIDIA makes up approximately 0.9% of Abacus Wealth Partners LLC’s portfolio, making the stock its 13th largest position. Abacus Wealth Partners LLC’s holdings in NVIDIA were worth $6,055,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA during the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA during the second quarter valued at $31,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the fourth quarter valued at about $34,000. West Financial Advisors LLC purchased a new position in NVIDIA in the third quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Up 2.9 %

Shares of NVIDIA stock opened at $133.57 on Tuesday. NVIDIA Co. has a 12-month low of $66.25 and a 12-month high of $153.13. The firm’s 50 day simple moving average is $135.31 and its two-hundred day simple moving average is $129.55. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.27 trillion, a price-to-earnings ratio of 52.57, a PEG ratio of 1.62 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the firm earned $0.38 EPS. The firm’s revenue was up 93.6% on a year-over-year basis. Analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Insider Activity

In other news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 in the last ninety days. Insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NVDA. Susquehanna upped their target price on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. JPMorgan Chase & Co. raised their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Rosenblatt Securities reissued a “buy” rating and set a $220.00 price target on shares of NVIDIA in a report on Wednesday, January 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Monday, January 27th. Finally, DA Davidson increased their target price on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target 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.