Progressive Investment Management Corp Has $19 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Progressive Investment Management Corp reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 156,412 shares of the computer hardware maker’s stock after selling 5,942 shares during the quarter. NVIDIA accounts for 4.9% of Progressive Investment Management Corp’s portfolio, making the stock its 4th largest position. Progressive Investment Management Corp’s holdings in NVIDIA were worth $18,995,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

NVDA has been the subject of several research reports. TD Cowen lifted their price target on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Wedbush boosted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Stifel Nicolaus upped 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. Evercore ISI lifted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Barclays increased their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $164.15.

NVIDIA Stock Up 3.4 %

Shares of NASDAQ NVDA opened at $149.43 on Tuesday. NVIDIA Co. has a 1 year low of $49.48 and a 1 year high of $152.89. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market cap of $3.66 trillion, a PE ratio of 58.81, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The company has a 50 day simple moving average of $139.75 and a 200 day simple moving average of $128.28.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, research analysts forecast that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Buying and Selling

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the sale, the insider now owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,226,886 shares of company stock valued at $161,499,400 over the last ninety days. 4.23% of the stock is owned by company insiders.

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.