Potential Hardware or Graphics Problem after Windows 7 platform update

I'm wary of updates and have it turned off because I've had problems in the past. Unfortuneately, I couldn't avoid installing one to run a program and now my computer if freezing up. This is the first time I'm having problems in a year after a new hardrive and OS installation. Here is the link from the update I installed. Download Platform Update for Windows 7 from Official Microsoft Download Center

I have attached original dump files. The most recent one is the 052115-55583-01.dmp file

Os is Windows 7 service pack 1 64 bit

I'm a noob, please tell me what I should do to fix or analyze this problem. Should I post more info to help solve the issue?

Just added the system specs from speccy app.

Analysis from OSRONLINE.COM

Crash Dump Analysis provided by OSR Open Systems Resources, Inc. (OSR Homepage - OSR)
Online Crash Dump Analysis Service
See OSR Online - The Home Page for Windows Driver Developers for more information
Windows 7 Kernel Version 7601 (Service Pack 1) MP (4 procs) Free x64
Product: WinNt, suite: TerminalServer SingleUserTS Personal
Built by: 7601.17514.amd64fre.win7sp1_rtm.101119-1850
Machine Name:
Kernel base = 0xfffff800`02c12000 PsLoadedModuleList = 0xfffff800`02e57e90
Debug session time: Thu May 21 18:51:31.470 2015 (UTC - 4:00)
System Uptime: 0 days 10:42:11.781
*******************************************************************************
* *
* Bugcheck Analysis *
* *
*******************************************************************************

VIDEO_TDR_FAILURE (116)
Attempt to reset the display driver and recover from timeout failed.
Arguments:
Arg1: fffffa8008c434e0, Optional pointer to internal TDR recovery context (TDR_RECOVERY_CONTEXT).
Arg2: fffff880048977f8, The pointer into responsible device driver module (e.g. owner tag).
Arg3: 0000000000000000, Optional error code (NTSTATUS) of the last failed operation.
Arg4: 0000000000000002, Optional internal context dependent data.

Debugging Details:
------------------

TRIAGER: Could not open triage file : e:\dump_analysis\program\triage\modclass.ini, error 2

OVERLAPPED_MODULE: Address regions for 'atikmdag' and 'atikmdag.sys' overlap

FAULTING_IP:
atikmdag+127f8
fffff880`048977f8 48895c2408 mov qword ptr [rsp+8],rbx

DEFAULT_BUCKET_ID: GRAPHICS_DRIVER_TDR_FAULT

CUSTOMER_CRASH_COUNT: 1

BUGCHECK_STR: 0x116

PROCESS_NAME: System

CURRENT_IRQL: 0

STACK_TEXT:
fffff880`0823a9c8 fffff880`04f03000 : 00000000`00000116 fffffa80`08c434e0 fffff880`048977f8 00000000`00000000 : nt!KeBugCheckEx
fffff880`0823a9d0 fffff880`04f02d0a : fffff880`048977f8 fffffa80`08c434e0 fffffa80`05ff3400 fffffa80`08bc1010 : dxgkrnl!TdrBugcheckOnTimeout+0xec
fffff880`0823aa10 fffff880`04fa9f07 : fffffa80`08c434e0 00000000`00000000 fffffa80`05ff3400 fffffa80`08bc1010 : dxgkrnl!TdrIsRecoveryRequired+0x1a2
fffff880`0823aa40 fffff880`04fd3b75 : 00000000`ffffffff 00000000`0025aeed 00000000`00000000 00000000`00000002 : dxgmms1!VidSchiReportHwHang+0x40b
fffff880`0823ab20 fffff880`04fd22bb : 00000000`00000102 00000000`00000001 00000000`0025aeed 00000000`00000000 : dxgmms1!VidSchiCheckHwProgress+0x71
fffff880`0823ab50 fffff880`04fa52c6 : ffffffff`ff676980 fffffa80`08bc1010 00000000`00000000 00000000`00000000 : dxgmms1!VidSchiWaitForSchedulerEvents+0x1fb
fffff880`0823abf0 fffff880`04fd1e7a : 00000000`00000000 fffffa80`064b30e0 00000000`00000080 fffffa80`08bc1010 : dxgmms1!VidSchiScheduleCommandToRun+0x1da
fffff880`0823ad00 fffff800`02f2fcce : fffff880`025c3d70 fffffa80`08c52040 fffffa80`054f9b30 fffff800`02c8a157 : dxgmms1!VidSchiWorkerThread+0xba
fffff880`0823ad40 fffff800`02c83fe6 : fffff880`02f64180 fffffa80`08c52040 fffff880`02f6efc0 fffff880`01210cb0 : nt!PspSystemThreadStartup+0x5a
fffff880`0823ad80 00000000`00000000 : 00000000`00000000 00000000`00000000 00000000`00000000 00000000`00000000 : nt!KiStartSystemThread+0x16


STACK_COMMAND: .bugcheck ; kb

FOLLOWUP_IP:
atikmdag+127f8
fffff880`048977f8 48895c2408 mov qword ptr [rsp+8],rbx

SYMBOL_NAME: atikmdag+127f8

FOLLOWUP_NAME: MachineOwner

MODULE_NAME: atikmdag

IMAGE_NAME: atikmdag.sys

DEBUG_FLR_IMAGE_TIMESTAMP: 4a8a1a8b

FAILURE_BUCKET_ID: X64_0x116_IMAGE_atikmdag.sys

BUCKET_ID: X64_0x116_IMAGE_atikmdag.sys

Followup: MachineOwner

You obviously didn't read my reply. Blue Screen of Death (BSOD) Posting Instructions

Your graphics card is a Radeon HD4200 and it's causing problems as you're getting 0x116 STOPs. The driver is really old so we'll look there first.

Download the driver linked below and save it to your desktop. Download DDU and follow Display Driver Uninstaller: How to use to remove all traces of your current driver. Reboot and install the downloaded driver.

Download

Code:

BugCheck 116, {fffffa8008a683e0, fffff880048347d4, 0, 2}

*** WARNING: Unable to verify timestamp for atikmdag.sys
*** ERROR: Module load completed but symbols could not be loaded for atikmdag.sys
Probably caused by : atikmdag.sys ( atikmdag+127d4 )

Followup: MachineOwner
---------

2: kd> lmvm atikmdag
start             end                 module name
fffff880`04822000 fffff880`04e39000   atikmdag T (no symbols)           
    Loaded symbol image file: atikmdag.sys
    Image path: \SystemRoot\system32\DRIVERS\atikmdag.sys
    Image name: atikmdag.sys
    Timestamp:        Thu Jul 02 18:45:07 2009 (4A4CF223)
    CheckSum:         005C2509
    ImageSize:        00617000
    Translations:     0000.04b0 0000.04e4 0409.04b0 0409.04e4

Test the system and report back.