Precedent Wealth Partners LLC Sells 93 Shares of NVIDIA Co. (NASDAQ:NVDA)

Precedent Wealth Partners LLC lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,038 shares of the computer hardware maker’s stock after selling 93 shares during the period. Precedent Wealth Partners LLC’s holdings in NVIDIA were worth $1,348,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NVDA. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in NVIDIA in the second quarter valued at $31,000. Legend Financial Advisors Inc. acquired a new stake in NVIDIA in the fourth quarter valued at $34,000. West Financial Advisors LLC bought a new position in shares of NVIDIA in the 3rd quarter valued at about $36,000. Finally, DHJJ Financial Advisors Ltd. increased 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 worth $41,000 after purchasing an additional 140 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction 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 directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents 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 over the last ninety days. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

Shares of 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 stock has a market capitalization of $3.41 trillion, a price-to-earnings ratio of 54.86, a price-to-earnings-growth ratio of 1.62 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company’s 50 day simple moving average is $134.52 and its 200 day simple moving average is $130.56.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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 company had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. During the same quarter last year, the company posted $0.38 EPS. The company’s revenue for the quarter was up 93.6% compared to the same quarter last year. As a group, research analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NVDA. Raymond James raised their target price on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research note on Thursday, November 14th. Robert W. Baird raised their price objective on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. The Goldman Sachs Group boosted their target price on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft raised their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Finally, Truist Financial lifted their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $168.21.

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.