NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Fortitude Advisory Group L.L.C.

Fortitude Advisory Group L.L.C. lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 141,983 shares of the computer hardware maker’s stock after selling 14,117 shares during the period. NVIDIA makes up about 11.5% of Fortitude Advisory Group L.L.C.’s portfolio, making the stock its largest position. Fortitude Advisory Group L.L.C.’s holdings in NVIDIA were worth $19,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA during the third quarter worth $27,000. University of Texas Texas AM Investment Management Co. acquired a new stake in shares of NVIDIA during the second quarter worth $31,000. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA during the fourth quarter worth $34,000. West Financial Advisors LLC acquired a new stake in shares of NVIDIA during the third quarter worth $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its holdings in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In related news, Director John Dabiri sold 716 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $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 sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last quarter. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NVDA has been the subject of a number of research reports. Susquehanna lifted their target price on NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Thursday, November 14th. Barclays raised their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Rosenblatt Securities restated a “buy” rating and issued a $220.00 price target on shares of NVIDIA in a research report on Wednesday, January 8th. Bank of America restated a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price target on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $168.21.

NVIDIA Price Performance

Shares of NVDA opened at $134.35 on Friday. NVIDIA Co. has a 52-week low of $74.22 and a 52-week high of $153.13. 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 business’s 50 day moving average price is $134.66 and its two-hundred day moving average price is $131.14. The firm has a market cap of $3.29 trillion, a PE ratio of 52.87, a price-to-earnings-growth ratio of 1.75 and a beta of 1.62.

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. The firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue was up 93.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.38 earnings per share. On average, equities analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

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.