Zimmermann Investment Management & Planning LLC Lowers Position in NVIDIA Co. (NASDAQ:NVDA)

Financial News Live · Mar 28, 2023 22:43

Zimmermann Investment Management & Planning LLC lessened its stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 2.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 10,564 shares of the computer hardware maker's stock after selling 309 shares during the quarter. Zimmermann Investment Management & Planning LLC's holdings in NVIDIA were worth $1,544,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of NVDA. AdvisorNet Financial Inc raised its stake in NVIDIA by 3.8% during the third quarter. AdvisorNet Financial Inc now owns 21,362 shares of the computer hardware maker's stock valued at $2,593,000 after purchasing an additional 781 shares in the last quarter. Rede Wealth LLC raised its stake in shares of NVIDIA by 3.9% in the third quarter. Rede Wealth LLC now owns 2,656 shares of the computer hardware maker's stock valued at $323,000 after acquiring an additional 100 shares during the period. Mizuho Securities Co. Ltd. raised its stake in shares of NVIDIA by 34.4% in the third quarter. Mizuho Securities Co. Ltd. now owns 6,140 shares of the computer hardware maker's stock valued at $745,000 after acquiring an additional 1,570 shares during the period. EP Wealth Advisors LLC raised its stake in shares of NVIDIA by 65.8% in the third quarter. EP Wealth Advisors LLC now owns 45,478 shares of the computer hardware maker's stock valued at $5,521,000 after acquiring an additional 18,044 shares during the period. Finally, MBL Wealth LLC raised its stake in shares of NVIDIA by 4.7% in the fourth quarter. MBL Wealth LLC now owns 6,428 shares of the computer hardware maker's stock valued at $939,000 after acquiring an additional 290 shares during the period. Hedge funds and other institutional investors own 61.80% of the company's stock.

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Insider Buying and Selling

In related news, CFO Colette Kress sold 10,741 shares of NVIDIA stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $200.00, for a total transaction of $2,148,200.00. Following the completion of the sale, the chief financial officer now owns 536,960 shares in the company, valued at approximately $107,392,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Colette Kress sold 10,741 shares of NVIDIA stock in a transaction dated Thursday, January 26th. The stock was sold at an average price of $200.00, for a total value of $2,148,200.00. Following the transaction, the chief financial officer now directly owns 536,960 shares of the company's stock, valued at approximately $107,392,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dawn E. Hudson sold 7,500 shares of NVIDIA stock in a transaction dated Friday, February 24th. The shares were sold at an average price of $230.40, for a total value of $1,728,000.00. Following the completion of the transaction, the director now directly owns 90,350 shares in the company, valued at $20,816,640. The disclosure for this sale can be found here. Insiders sold a total of 232,773 shares of company stock valued at $41,275,700 over the last three months. 4.04% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NVDA. Craig Hallum increased their target price on shares of NVIDIA from $165.00 to $190.00 and gave the company a "hold" rating in a research note on Thursday, February 23rd. BNP Paribas raised shares of NVIDIA from an "underperform" rating to a "neutral" rating and set a $230.00 target price on the stock in a research note on Tuesday, March 21st. Credit Suisse Group set a $275.00 price target on shares of NVIDIA in a report on Wednesday, March 22nd. Susquehanna restated a "positive" rating and issued a $265.00 price target on shares of NVIDIA in a report on Thursday, March 9th. Finally, Truist Financial upped their price target on shares of NVIDIA from $266.00 to $289.00 and gave the stock a "buy" rating in a report on Wednesday, March 22nd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and an average target price of $258.72.

NVIDIA Stock Down 2.0 %

NVIDIA stock traded down $5.36 during mid-day trading on Tuesday, hitting $259.95. The company had a trading volume of 8,530,311 shares, compared to its average volume of 50,185,395. The stock has a market cap of $642.08 billion, a price-to-earnings ratio of 152.48, a PEG ratio of 4.75 and a beta of 1.76. NVIDIA Co. has a 1 year low of $108.13 and a 1 year high of $289.46. The company has a quick ratio of 2.73, a current ratio of 3.52 and a debt-to-equity ratio of 0.44. The business has a fifty day moving average of $223.09 and a 200 day moving average of $172.51.

NVIDIA (NASDAQ:NVDA – Get Rating) last announced its earnings results on Wednesday, February 22nd. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.81 by $0.07. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.02 billion. NVIDIA had a net margin of 16.19% and a return on equity of 26.61%. The company's revenue for the quarter was down 20.8% compared to the same quarter last year. During the same period last year, the firm posted $1.14 earnings per share. On average, sell-side analysts expect that NVIDIA Co. will post 3.22 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 29th. Investors of record on Wednesday, March 8th will be issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.06%. The ex-dividend date is Tuesday, March 7th. NVIDIA's dividend payout ratio is presently 9.20%.

NVIDIA Profile

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, 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.