BOCHK Asset Management Ltd Sells 179,730 Shares of NVIDIA Co. (NASDAQ:NVDA)

BOCHK Asset Management Ltd trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 42.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,470 shares of the computer hardware maker’s stock after selling 179,730 shares during the quarter. NVIDIA comprises approximately 9.9% of BOCHK Asset Management Ltd’s portfolio, making the stock its biggest position. BOCHK Asset Management Ltd’s holdings in NVIDIA were worth $32,293,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA in the third quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the 2nd quarter valued at about $31,000. Legend Financial Advisors Inc. purchased a new stake in NVIDIA in the 4th quarter valued at approximately $34,000. West Financial Advisors LLC purchased a new stake in NVIDIA during the 3rd quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. raised its position in shares of NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after buying an additional 140 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Robert W. Baird upped their price target on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Needham & Company LLC raised their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a research report on Monday, January 27th. Phillip Securities restated an “accumulate” rating and issued a $160.00 price target (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Finally, Benchmark reiterated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $168.21.

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,107,632 shares of company stock worth $146,405,286 in the last three months. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 4.1 %

Shares of NVDA opened at $134.35 on Monday. The business’s 50 day simple moving average is $134.66 and its 200-day simple moving average is $131.56. NVIDIA Co. has a one year low of $74.22 and a one year high of $153.13. The company has a market capitalization of $3.29 trillion, a P/E ratio of 52.87, a PEG ratio of 1.76 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.

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.