Sherman Asset Management Inc. Purchases Shares of 6,953 NVIDIA Co. (NASDAQ:NVDA)

Sherman Asset Management Inc. acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 6,953 shares of the computer hardware maker’s stock, valued at approximately $934,000. NVIDIA accounts for 0.9% of Sherman Asset Management Inc.’s portfolio, making the stock its 22nd biggest position.

A number of other large investors have also made changes to their positions in NVDA. DiNuzzo Private Wealth Inc. lifted its position in NVIDIA by 0.8% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after buying an additional 71 shares in the last quarter. Smart Portfolios LLC raised its stake in shares of NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after acquiring an additional 75 shares during the last quarter. Palisade Asset Management LLC raised its stake in shares of NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after acquiring an additional 75 shares during the last quarter. Baker Boyer National Bank lifted its position in shares of NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after purchasing an additional 76 shares in the last quarter. Finally, Kwmg LLC grew its stake in shares of NVIDIA by 0.6% during the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after purchasing an additional 77 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,609 shares of company stock valued at $22,642,615 over the last ninety days. 4.23% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

NVDA has been the subject of several research analyst reports. Morgan Stanley set a $162.00 price objective on shares of NVIDIA and gave the stock an “overweight” rating in a research report on Wednesday, March 19th. Hsbc Global Res downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a research report on Wednesday, March 19th. Finally, DA Davidson cut their target price on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $169.89.

NVIDIA Stock Performance

NVDA opened at $94.31 on Friday. The company has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 37.12, a P/E/G ratio of 1.76 and a beta of 1.96. The business’s 50-day moving average price is $121.20 and its two-hundred day moving average price is $131.07. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $195.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping 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 company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. Equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

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.