RNC Capital Management LLC Has $23.87 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

RNC Capital Management LLC lessened its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 177,771 shares of the computer hardware maker’s stock after selling 2,869 shares during the quarter. RNC Capital Management LLC’s holdings in NVIDIA were worth $23,873,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Christopher J. Hasenberg Inc bought a new stake in NVIDIA in the 3rd quarter valued at $27,000. Legend Financial Advisors Inc. bought a new position in shares of NVIDIA during the 4th quarter worth about $34,000. West Financial Advisors LLC bought a new stake in NVIDIA in the third quarter valued at about $36,000. Luken Investment Analytics LLC bought a new stake in NVIDIA in the fourth quarter valued at about $40,000. Finally, DHJJ Financial Advisors Ltd. raised its position in NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $112.69 on Friday. The company has a market cap of $2.75 trillion, a P/E ratio of 44.35, a PEG ratio of 1.76 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The business has a 50-day moving average price of $131.66 and a two-hundred day moving average price of $131.63. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NVDA. Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. JPMorgan Chase & Co. upped their price target on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Raymond James increased their price objective on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Truist Financial raised their price target on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Finally, Susquehanna raised their price target on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $171.69.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,107,632 shares of company stock valued at $146,405,286. Corporate insiders own 4.23% of the company’s stock.

About NVIDIA

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.