NVIDIA Co. (NASDAQ:NVDA) Stock Holdings Reduced by KFG Wealth Management LLC

KFG Wealth Management LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 38.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,180 shares of the computer hardware maker’s stock after selling 5,097 shares during the period. KFG Wealth Management LLC’s holdings in NVIDIA were worth $1,099,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Ironwood Wealth Management LLC. grew its position in NVIDIA by 896.9% in the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after acquiring an additional 5,695 shares in the last quarter. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA in the 2nd quarter valued at $31,000. Firestone Capital Management bought a new stake in NVIDIA in the second quarter worth $270,000. Fairway Wealth LLC acquired a new position in NVIDIA during the second quarter worth $247,000. Finally, Axxcess Wealth Management LLC increased its position in NVIDIA by 981.1% during the second quarter. Axxcess Wealth Management LLC now owns 430,465 shares of the computer hardware maker’s stock worth $52,207,000 after buying an additional 390,648 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 0.4 %

NASDAQ NVDA opened at $139.40 on Wednesday. NVIDIA Co. has a 1-year low of $66.25 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. The stock’s 50 day moving average is $134.52 and its two-hundred day moving average is $130.56. The company has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 54.86, a PEG ratio of 1.62 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 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 business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the previous year, the firm earned $0.38 EPS. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. Equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

Insider Activity

In related news, Director John Dabiri sold 716 shares of NVIDIA 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 completion of the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on NVDA. Bank of America reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Tigress Financial upgraded NVIDIA from a “buy” rating to a “strong-buy” rating and boosted their target price for the stock from $170.00 to $220.00 in a report on Tuesday, January 28th. Phillip Securities reiterated an “accumulate” rating and set a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Wells Fargo & Company boosted their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.21.

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.