Griffin Asset Management Inc. Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

Griffin Asset Management Inc. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 13.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 83,649 shares of the computer hardware maker's stock after selling 12,999 shares during the period. NVIDIA accounts for approximately 1.3% of Griffin Asset Management Inc.'s investment portfolio, making the stock its 21st biggest position. Griffin Asset Management Inc.'s holdings in NVIDIA were worth $11,233,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA in the 2nd quarter valued at approximately $31,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $34,000. West Financial Advisors LLC purchased a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $36,000. Finally, DHJJ Financial Advisors Ltd. grew its stake in shares of NVIDIA by 70.0% in the 3rd 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 period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Activity at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 in the last ninety days. Insiders own 4.23% of the company's stock.

NVIDIA Trading Down 4.1 %

Shares of NASDAQ: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's 50 day moving average is $134.66 and its two-hundred day moving average is $131.14. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market cap of $3.29 trillion, a PE ratio of 52.87, a P/E/G ratio of 1.75 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company's revenue was up 93.6% on a year-over-year basis. During the same period last year, the firm posted $0.38 EPS. Equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on NVDA. Barclays increased their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an "overweight" rating in a research note on Friday, January 17th. Wells Fargo & Company increased their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an "overweight" rating in a research note on Thursday, November 21st. Stifel Nicolaus increased their price target on shares of NVIDIA from $165.00 to $180.00 and gave the company a "buy" rating in a research note on Tuesday, November 19th. Phillip Securities restated an "accumulate" rating and issued a $160.00 price objective (up from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Finally, Wedbush restated an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a report on Thursday. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $168.21.

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.

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