Logan Capital Management Inc. Sells 10,051 Shares of NVIDIA Co. (NASDAQ:NVDA)

Logan Capital Management Inc. lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 143,349 shares of the computer hardware maker’s stock after selling 10,051 shares during the period. NVIDIA comprises about 0.8% of Logan Capital Management Inc.’s holdings, making the stock its 29th largest holding. Logan Capital Management Inc.’s holdings in NVIDIA were worth $19,250,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Hickory Point Bank & Trust purchased a new stake in NVIDIA during the fourth quarter valued at about $2,272,000. Capital Performance Advisors LLP lifted its stake in shares of NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after acquiring an additional 9,944 shares during the last quarter. Waddell & Associates LLC boosted its holdings in NVIDIA by 1.2% during the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock valued at $3,240,000 after acquiring an additional 297 shares during the period. Strategy Asset Managers LLC boosted its holdings in NVIDIA by 0.8% during the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock valued at $7,024,000 after acquiring an additional 405 shares during the period. Finally, Ethos Financial Group LLC increased its position in shares of NVIDIA by 24.1% during the fourth quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock valued at $4,312,000 after buying an additional 6,241 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on NVDA. Mizuho lowered their price objective on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a report on Friday, March 14th. William Blair restated an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Wedbush lowered NVIDIA from an “outperform” rating to a “cautious” rating in a research report on Friday. Susquehanna reaffirmed a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, thirty-three have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.53.

NVIDIA Price Performance

NASDAQ NVDA opened at $135.50 on Wednesday. NVIDIA Co. has a one year low of $86.62 and a one year high of $195.95. The stock has a 50-day moving average of $114.51 and a 200 day moving average of $126.60. 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 company has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.33, a PEG ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. On average, sell-side analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

Insider Activity at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares in the company, valued at $55,997,190.40. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. The trade was a 2.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 over the last quarter. Company insiders own 4.17% of the company’s stock.

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.