Archer Investment Corp Sells 687 Shares of NVIDIA Co. (NASDAQ:NVDA)

Archer Investment Corp cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 18.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,029 shares of the computer hardware maker’s stock after selling 687 shares during the period. Archer Investment Corp’s holdings in NVIDIA were worth $1,500,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NVDA. Lodestar Private Asset Management LLC lifted its stake in NVIDIA by 1.0% in the fourth quarter. Lodestar Private Asset Management LLC now owns 1,652 shares of the computer hardware maker’s stock valued at $818,000 after buying an additional 17 shares during the last quarter. Campbell Newman Asset Management Inc. increased its holdings in shares of NVIDIA by 0.6% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 2,991 shares of the computer hardware maker’s stock valued at $1,481,000 after purchasing an additional 18 shares during the period. Aprio Wealth Management LLC increased its holdings in shares of NVIDIA by 1.8% in the fourth quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock valued at $523,000 after purchasing an additional 19 shares during the period. Palumbo Wealth Management LLC increased its holdings in shares of NVIDIA by 0.7% in the fourth quarter. Palumbo Wealth Management LLC now owns 2,816 shares of the computer hardware maker’s stock valued at $1,395,000 after purchasing an additional 19 shares during the period. Finally, Corundum Group Inc. increased its holdings in shares of NVIDIA by 0.8% in the fourth quarter. Corundum Group Inc. now owns 2,380 shares of the computer hardware maker’s stock valued at $1,179,000 after purchasing an additional 19 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on NVDA shares. HSBC boosted their target price on NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a report on Monday, March 18th. Jefferies Financial Group boosted their target price on NVIDIA from $610.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. KeyCorp boosted their target price on NVIDIA from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a report on Monday, April 8th. Wedbush reissued an “outperform” rating and issued a $1,000.00 target price on shares of NVIDIA in a report on Tuesday, March 19th. Finally, Bank of America upped their price objective on NVIDIA from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $940.30.

NVIDIA Stock Up 6.2 %

Shares of NASDAQ:NVDA opened at $877.35 on Friday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. NVIDIA Co. has a 52-week low of $266.25 and a 52-week high of $974.00. The stock’s fifty day simple moving average is $854.40 and its 200-day simple moving average is $635.34. The company has a market capitalization of $2.19 trillion, a P/E ratio of 73.48, a P/E/G ratio of 1.14 and a beta of 1.73.

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

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In related news, Director John Dabiri sold 128 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director John Dabiri sold 128 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $800.74, for a total value of $4,003,700.00. Following the transaction, the director now owns 1,119,583 shares in the company, valued at $896,494,891.42. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,278 shares of company stock worth $52,689,898. 3.99% of the stock is owned by company insiders.

NVIDIA Company 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.