Davis R M Inc. Sells 3,776 Shares of NVIDIA Co. (NASDAQ:NVDA)

Davis R M Inc. cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,496,400 shares of the computer hardware maker’s stock after selling 3,776 shares during the quarter. NVIDIA makes up 3.5% of Davis R M Inc.’s portfolio, making the stock its 5th largest position. Davis R M Inc.’s holdings in NVIDIA were worth $181,723,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the stock. Legal & General Group Plc raised its holdings in shares of NVIDIA by 884.0% in the 2nd quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of NVIDIA by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after purchasing an additional 2,042,348 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after purchasing an additional 91,867,031 shares during the period. Finally, Fisher Asset Management LLC raised its holdings in shares of NVIDIA by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker’s stock valued at $11,745,763,000 after purchasing an additional 3,283,380 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $135.91 on Friday. The company has a fifty day moving average price of $139.90 and a 200-day moving average price of $128.66. The company has a market capitalization of $3.33 trillion, a P/E ratio of 53.49, a PEG ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 52-week low of $53.56 and a 52-week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business 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. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, equities analysts expect that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued 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 is currently 1.57%.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of research analyst reports. Morgan Stanley upped their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Mizuho increased their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. UBS Group increased their price target on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. William Blair initiated coverage on shares of NVIDIA in a report on Wednesday, September 18th. They issued an “outperform” rating on the stock. Finally, Redburn Atlantic initiated coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $164.63.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares in the company, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 over the last three months. 4.23% of the stock is currently owned by insiders.

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.