Welch & Forbes LLC Cuts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Welch & Forbes LLC reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.1% in the 4th quarter, HoldingsChannel reports. The firm owned 197,874 shares of the computer hardware maker’s stock after selling 2,114 shares during the period. NVIDIA comprises approximately 1.0% of Welch & Forbes LLC’s holdings, making the stock its 25th largest position. Welch & Forbes LLC’s holdings in NVIDIA were worth $46,559,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Carnegie Capital Asset Management LLC raised its holdings in NVIDIA by 4.1% during the third quarter. Carnegie Capital Asset Management LLC now owns 34,069 shares of the computer hardware maker’s stock worth $5,930,000 after purchasing an additional 1,329 shares in the last quarter. Squarepoint Ops LLC purchased a new position in NVIDIA during the third quarter worth about $6,260,000. Baker Avenue Asset Management LP raised its holdings in NVIDIA by 15.6% during the third quarter. Baker Avenue Asset Management LP now owns 10,205 shares of the computer hardware maker’s stock worth $1,776,000 after purchasing an additional 1,375 shares in the last quarter. Contravisory Investment Management Inc. purchased a new position in NVIDIA during the fourth quarter worth about $75,000. Finally, Strategic Wealth Advisors Group LLC raised its holdings in NVIDIA by 20.7% during the third quarter. Strategic Wealth Advisors Group LLC now owns 14,395 shares of the computer hardware maker’s stock worth $2,505,000 after purchasing an additional 2,471 shares in the last quarter. 65.02% of the stock is owned by hedge funds and other institutional investors.

In other news, Director A Brooke Seawell sold 20,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $212.75, for a total value of $4,255,000.00. Following the sale, the director now directly owns 22,221 shares in the company, valued at $4,727,517.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert K. Burgess sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $230.71, for a total transaction of $1,845,680.00. Following the sale, the director now owns 13,894 shares in the company, valued at approximately $3,205,484.74. The disclosure for this sale can be found here. Insiders sold 45,785 shares of company stock worth $9,965,644 over the last quarter. Company insiders own 4.64% of the company’s stock.

Several research analysts recently issued reports on the stock. Royal Bank of Canada reissued a “buy” rating on shares of NVIDIA in a report on Friday, January 3rd. Cowen increased their target price on shares of NVIDIA from $195.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, November 15th. Jefferies Financial Group increased their target price on shares of NVIDIA from $210.00 to $250.00 and gave the company a “buy” rating in a report on Friday, November 15th. Benchmark increased their target price on shares of NVIDIA from $240.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, December 31st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $240.00 target price on shares of NVIDIA in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. NVIDIA currently has an average rating of “Buy” and an average price target of $228.86.

Shares of NVDA stock traded down $0.88 during trading hours on Friday, hitting $248.05. The company’s stock had a trading volume of 306,101 shares, compared to its average volume of 7,045,799. The business has a fifty day moving average of $230.42 and a 200-day moving average of $192.37. The stock has a market cap of $151.57 billion, a price-to-earnings ratio of 40.83, a P/E/G ratio of 6.13 and a beta of 2.04. NVIDIA Co. has a twelve month low of $131.00 and a twelve month high of $252.99. The company has a current ratio of 8.42, a quick ratio of 7.71 and a debt-to-equity ratio of 0.22.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Thursday, November 14th. The computer hardware maker reported $1.78 EPS for the quarter, beating the consensus estimate of $1.57 by $0.21. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.92 billion. NVIDIA had a net margin of 24.08% and a return on equity of 22.02%. The company’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.84 earnings per share. On average, equities analysts expect that NVIDIA Co. will post 4.32 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, November 29th were given a $0.16 dividend. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.64 annualized dividend and a dividend yield of 0.26%. NVIDIA’s dividend payout ratio is presently 10.54%.

About NVIDIA

NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the Graphics Processing Unit (GPU) and Tegra Processor segments. The GPU segment comprises of product brands which aims specialized markets including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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