Nixon Peabody Trust Co. Trims Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Nixon Peabody Trust Co. trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 396,061 shares of the computer hardware maker’s stock after selling 79 shares during the quarter. NVIDIA makes up 4.0% of Nixon Peabody Trust Co.’s holdings, making the stock its 6th biggest holding. Nixon Peabody Trust Co.’s holdings in NVIDIA were worth $48,098,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Hoertkorn Richard Charles raised its position in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after purchasing an additional 70 shares during the last quarter. Smart Portfolios LLC increased its stake in shares of NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after buying an additional 75 shares during the period. Total Wealth Planning LLC raised its holdings in shares of NVIDIA by 3.6% during the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after acquiring an additional 78 shares in the last quarter. Boyd Watterson Asset Management LLC OH boosted its holdings in NVIDIA by 0.3% in the third quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after acquiring an additional 80 shares in the last quarter. Finally, Pavion Blue Capital LLC boosted its holdings in NVIDIA by 0.4% in the third quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock valued at $2,629,000 after acquiring an additional 80 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the sale, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,226,886 shares of company stock worth $161,499,400 in the last three months. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $144.47 on Friday. The stock’s fifty day simple moving average is $139.57 and its 200 day simple moving average is $128.25. The stock has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 56.86, a PEG ratio of 2.43 and a beta of 1.63. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52-week low of $47.51 and a 52-week high of $152.89.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The company 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 in the previous year, the business earned $0.38 EPS. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Benchmark lifted their price objective on NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Raymond James lifted their price target on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Robert W. Baird increased their price objective on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and an average price target of $164.15.

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.