Cherry Creek Investment Advisors Inc. Cuts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Cherry Creek Investment Advisors Inc. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,746 shares of the computer hardware maker's stock after selling 5,123 shares during the period. NVIDIA comprises approximately 5.9% of Cherry Creek Investment Advisors Inc.'s holdings, making the stock its 5th largest holding. Cherry Creek Investment Advisors Inc.'s holdings in NVIDIA were worth $12,052,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NVDA. Christopher J. Hasenberg Inc bought a new position in shares of NVIDIA during the third quarter valued at $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in shares of NVIDIA during the 2nd quarter valued at $31,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the 4th quarter worth approximately $34,000. West Financial Advisors LLC purchased a new position in shares of NVIDIA during the third quarter valued at about $36,000. Finally, DHJJ Financial Advisors Ltd. lifted its position in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker's stock valued at $41,000 after purchasing an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. The Goldman Sachs Group lifted their price target on shares of NVIDIA from $150.00 to $165.00 and gave the stock a "buy" rating in a report on Thursday, November 21st. HSBC lowered their price target on NVIDIA from $195.00 to $185.00 and set a "buy" rating for the company in a research report on Monday, January 13th. Loop Capital reaffirmed a "buy" rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Finally, Truist Financial increased their target price on NVIDIA from $148.00 to $167.00 and gave the company a "buy" rating in a research report on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $168.21.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 716 shares of the 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 transaction, the director now directly owns 19,942 shares of the company's stock, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % 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 valued at $146,506,958 in the last ninety days. Corporate insiders own 4.23% of the company's stock.

NVIDIA Trading Down 4.1 %

NASDAQ:NVDA traded down $5.76 on Friday, hitting $134.35. 226,998,737 shares of the stock were exchanged, compared to its average volume of 265,515,719. The stock has a market cap of $3.29 trillion, a PE ratio of 52.87, a PEG ratio of 1.75 and a beta of 1.62. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a fifty-two week low of $74.22 and a fifty-two week high of $153.13. The stock has a fifty day moving average of $134.66 and a 200-day moving average of $130.91.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The business's quarterly revenue was up 93.6% compared to the same quarter last year. As a group, equities analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

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.