Paragon Advisors LLC Sells 14,234 Shares of NVIDIA Co. (NASDAQ:NVDA)

Paragon Advisors LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 17.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,201 shares of the computer hardware maker’s stock after selling 14,234 shares during the quarter. NVIDIA accounts for about 3.0% of Paragon Advisors LLC’s holdings, making the stock its 8th largest position. Paragon Advisors LLC’s holdings in NVIDIA were worth $8,890,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after acquiring an additional 11,525,969 shares during the last quarter. Legal & General Group Plc grew its position 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 worth $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock valued at $21,908,236,000 after buying an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. grew its position 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 worth $17,738,630,000 after buying an additional 2,042,348 shares during the period. Finally, Ameriprise Financial Inc. grew its stake 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 worth $12,658,922,000 after buying an additional 91,867,031 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares in the company, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on 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 owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock worth $146,506,958 over the last ninety days. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Down 16.9 %

NVIDIA stock opened at $118.48 on Tuesday. NVIDIA Co. has a twelve month low of $60.70 and a twelve month high of $153.13. The business has a fifty day moving average of $138.72 and a two-hundred day moving average of $129.52. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.90 trillion, a P/E ratio of 46.63, a P/E/G ratio of 2.65 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released 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 for the quarter, compared to analyst estimates of $33.15 billion. During the same period last year, the company posted $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. On average, analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors 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 yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Barclays upped their price objective on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Evercore ISI increased their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Benchmark restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Tuesday, January 7th. UBS Group lifted their price target on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Finally, Piper Sandler raised their price target on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.23.

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.