Sycomore Asset Management Sells 1,983 Shares of NVIDIA Co. (NASDAQ:NVDA)

Sycomore Asset Management reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,239 shares of the computer hardware maker’s stock after selling 1,983 shares during the period. NVIDIA accounts for about 7.2% of Sycomore Asset Management’s investment portfolio, making the stock its 3rd largest position. Sycomore Asset Management’s holdings in NVIDIA were worth $33,227,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. LFA Lugano Financial Advisors SA purchased a new position in shares of NVIDIA during the 4th quarter worth about $28,000. Criterion Capital Advisors LLC purchased a new position in shares of NVIDIA during the 4th quarter worth about $28,000. Your Advocates Ltd. LLP purchased a new position in shares of NVIDIA during the 3rd quarter worth about $30,000. O Brien Wealth Partners LLC raised its holdings in NVIDIA by 139.5% in the fourth quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock valued at $45,000 after buying an additional 53 shares during the period. Finally, Trivant Custom Portfolio Group LLC raised its holdings in NVIDIA by 44.1% in the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after buying an additional 30 shares during the period. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $858.17 on Friday. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $865.39 and its two-hundred day moving average price is $646.31. NVIDIA Co. has a 52 week low of $272.40 and a 52 week high of $974.00. The stock has a market cap of $2.15 trillion, a PE ratio of 71.87, a price-to-earnings-growth ratio of 1.19 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the previous year, the business earned $0.65 earnings per share. NVIDIA’s revenue for the quarter was up 265.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that NVIDIA Co. will post 22.55 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.34%.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the transaction, the insider now owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the transaction, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. In the last quarter, insiders have sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

NVDA has been the topic of several research reports. CICC Research initiated coverage on shares of NVIDIA in a report on Wednesday, March 6th. They issued an “outperform” rating and a $870.00 price target on the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $900.00 price target on shares of NVIDIA in a report on Monday, March 4th. Piper Sandler Companies raised their price target on shares of NVIDIA to $850.00 and gave the company an “overweight” rating in a report on Friday, February 16th. The Goldman Sachs Group raised their price target on shares of NVIDIA from $875.00 to $1,000.00 and gave the company a “buy” rating in a report on Wednesday, March 20th. Finally, HSBC lifted their price objective on shares of NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $941.55.

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.