Primecap Management Co. CA Has $2.61 Billion Stake in NVIDIA Co. (NASDAQ:NVDA)

Primecap Management Co. CA cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,468,280 shares of the computer hardware maker’s stock after selling 201,700 shares during the period. NVIDIA makes up approximately 1.9% of Primecap Management Co. CA’s investment portfolio, making the stock its 13th largest position. Primecap Management Co. CA owned about 0.09% of NVIDIA worth $2,607,108,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of NVIDIA by 5.6% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,297,588 shares of the computer hardware maker’s stock worth $2,343,500,000 after acquiring an additional 1,026,107 shares during the period. Steele Capital Management Inc. increased its position in NVIDIA by 4.0% during the 3rd quarter. Steele Capital Management Inc. now owns 115,437 shares of the computer hardware maker’s stock worth $14,020,000 after purchasing an additional 4,428 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in NVIDIA by 2.2% in the third quarter. EverSource Wealth Advisors LLC now owns 165,700 shares of the computer hardware maker’s stock valued at $20,123,000 after buying an additional 3,603 shares in the last quarter. Stonebridge Financial Planning Group LLC increased its holdings in NVIDIA by 3.0% in the 3rd quarter. Stonebridge Financial Planning Group LLC now owns 27,241 shares of the computer hardware maker’s stock worth $3,308,000 after purchasing an additional 781 shares in the last quarter. Finally, Altman Advisors Inc. raised its position in NVIDIA by 0.5% in the third quarter. Altman Advisors Inc. now owns 51,432 shares of the computer hardware maker’s stock valued at $6,246,000 after purchasing an additional 274 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NVDA shares. Piper Sandler boosted their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. HSBC raised their target price on NVIDIA from $145.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Bank of America reissued a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Benchmark upped their price target on shares of NVIDIA from $170.00 to $190.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, William Blair initiated coverage on NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating for the company. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now 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 legal filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now owns 480,899 shares in the company, valued at approximately $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 1,226,886 shares of company stock worth $161,499,400 in the last three months. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $149.43 on Tuesday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market cap of $3.66 trillion, a price-to-earnings ratio of 58.81, a P/E/G ratio of 2.43 and a beta of 1.64. The firm’s 50-day simple moving average is $139.75 and its two-hundred day simple moving average is $128.28. NVIDIA Co. has a 52 week low of $49.48 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during 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 quarter last year, the company earned $0.38 earnings per share. As a group, equities analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

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

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.