NVIDIA Co. (NASDAQ:NVDA) Position Trimmed by Rockland Trust Co.

Rockland Trust Co. reduced its holdings in NVIDIA Co. (NASDAQ:NVDA) by 7.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 32,694 shares of the computer hardware maker’s stock after selling 2,741 shares during the quarter. Rockland Trust Co.’s holdings in NVIDIA were worth $4,390,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of NVDA. Ironwood Wealth Management LLC. increased its holdings in shares of NVIDIA by 896.9% in the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after acquiring an additional 5,695 shares during the period. Financial Guidance Group Inc. grew its position in NVIDIA by 900.0% in the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after purchasing an additional 3,240 shares during the last quarter. Tortoise Investment Management LLC increased its stake in shares of NVIDIA by 858.9% in the second quarter. Tortoise Investment Management LLC now owns 6,770 shares of the computer hardware maker’s stock valued at $836,000 after purchasing an additional 6,064 shares during the period. Generate Investment Management Ltd raised its holdings in shares of NVIDIA by 945.0% during the second quarter. Generate Investment Management Ltd now owns 585,609 shares of the computer hardware maker’s stock valued at $72,305,000 after buying an additional 529,569 shares during the last quarter. Finally, Allegheny Financial Group LTD acquired a new position in shares of NVIDIA during the second quarter worth approximately $835,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,348 shares of company stock worth $146,506,958. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 3.7 %

NASDAQ NVDA opened at $120.07 on Friday. The firm’s fifty day simple moving average is $137.02 and its 200-day simple moving average is $129.37. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1-year low of $60.70 and a 1-year high of $153.13. The company has a market capitalization of $2.94 trillion, a PE ratio of 47.25, a price-to-earnings-growth ratio of 2.23 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced 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 return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same period in the previous year, the company earned $0.38 EPS. The firm’s revenue was up 93.6% on a year-over-year basis. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

Several analysts have weighed in on the company. UBS Group lifted their target price on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Benchmark reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a report on Tuesday, January 7th. Needham & Company LLC raised their target price on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Robert W. Baird upped their price target on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Wedbush raised their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $166.23.

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.