Hudson Canyon Capital Management Sells 11,250 Shares of NVIDIA Co. (NASDAQ:NVDA)

Hudson Canyon Capital Management reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 10.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 94,250 shares of the computer hardware maker’s stock after selling 11,250 shares during the quarter. NVIDIA makes up 8.3% of Hudson Canyon Capital Management’s investment portfolio, making the stock its largest holding. Hudson Canyon Capital Management’s holdings in NVIDIA were worth $12,657,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of NVDA. GAM Holding AG grew its stake in shares of NVIDIA by 6.0% during the 4th quarter. GAM Holding AG now owns 464,873 shares of the computer hardware maker’s stock worth $62,428,000 after acquiring an additional 26,265 shares during the period. Mraz Amerine & Associates Inc. purchased a new stake in shares of NVIDIA in the 4th quarter valued at about $218,000. Venturi Wealth Management LLC raised its holdings in shares of NVIDIA by 19.9% during the 4th quarter. Venturi Wealth Management LLC now owns 264,967 shares of the computer hardware maker’s stock valued at $35,582,000 after buying an additional 43,943 shares in the last quarter. Northstar Asset Management Inc. raised its holdings in shares of NVIDIA by 8.7% during the 4th quarter. Northstar Asset Management Inc. now owns 13,663 shares of the computer hardware maker’s stock valued at $1,835,000 after buying an additional 1,096 shares in the last quarter. Finally, Fortis Group Advisors LLC grew its position in NVIDIA by 75.5% during the 4th quarter. Fortis Group Advisors LLC now owns 28,283 shares of the computer hardware maker’s stock worth $3,798,000 after acquiring an additional 12,167 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $117.70 on Friday. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. 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 company has a fifty day simple moving average of $126.92 and a two-hundred day simple moving average of $131.18. The firm has a market capitalization of $2.87 trillion, a P/E ratio of 46.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

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

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NVDA. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research report on Wednesday. Benchmark reissued a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Wednesday. William Blair reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday. DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Finally, Truist Financial boosted their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $171.51.

Insider Activity

In related news, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 179,109 shares of company stock valued at $22,117,015. 4.23% of the stock is currently owned by company insiders.

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.