Peregrine Asset Advisers Inc. Sells 87,655 Shares of NVIDIA Co. (NASDAQ:NVDA)

Peregrine Asset Advisers Inc. lowered its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 50.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,556 shares of the computer hardware maker’s stock after selling 87,655 shares during the period. NVIDIA accounts for 3.5% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 2nd largest holding. Peregrine Asset Advisers Inc.’s holdings in NVIDIA were worth $10,269,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NVDA. Beam Wealth Advisors Inc. grew its stake in shares of NVIDIA by 1.5% in the 3rd quarter. Beam Wealth Advisors Inc. now owns 132,072 shares of the computer hardware maker’s stock valued at $16,039,000 after purchasing an additional 1,957 shares during the last quarter. Paragon Capital Management LLC lifted its holdings in shares of NVIDIA by 23.7% during the third quarter. Paragon Capital Management LLC now owns 2,592 shares of the computer hardware maker’s stock worth $315,000 after purchasing an additional 497 shares during the period. Ridgecrest Wealth Partners LLC grew its position in NVIDIA by 309.4% in the 3rd quarter. Ridgecrest Wealth Partners LLC now owns 75,300 shares of the computer hardware maker’s stock valued at $9,144,000 after buying an additional 56,905 shares during the last quarter. Kennebec Savings Bank acquired a new position in NVIDIA in the 3rd quarter valued at $2,350,000. Finally, Ashton Thomas Securities LLC raised its position in NVIDIA by 34.8% during the 3rd quarter. Ashton Thomas Securities LLC now owns 89,171 shares of the computer hardware maker’s stock worth $10,739,000 after buying an additional 23,009 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the topic of several analyst reports. Raymond James lifted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Deutsche Bank Aktiengesellschaft boosted their target price on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Thursday, November 21st. Robert W. Baird lifted their price target on NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. The Goldman Sachs Group increased their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Loop Capital restated a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research report on Wednesday, November 20th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Stock Down 0.2 %

Shares of NVIDIA stock opened at $139.93 on Friday. The stock has a market capitalization of $3.43 trillion, a price-to-earnings ratio of 55.07, a PEG ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a twelve month low of $47.32 and a twelve month high of $152.89. 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’s 50 day simple moving average is $139.99 and its 200-day simple moving average is $127.80.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping 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 firm 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 earned $0.38 earnings per share. The firm’s revenue for the quarter was up 93.6% on a year-over-year basis. Equities research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Thursday, December 5th will be paid 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 of this dividend is Thursday, December 5th. NVIDIA’s payout ratio is 1.57%.

Insiders Place Their Bets

In other news, Director John Dabiri sold 716 shares of the business’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 transaction of $101,672.00. Following the completion of the transaction, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. The trade was a 3.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 125,000 shares of NVIDIA stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $122.61, for a total value of $15,326,250.00. Following the sale, the director now directly owns 8,255,117 shares in the company, valued at $1,012,159,895.37. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,351,886 shares of company stock worth $176,825,650. Insiders own 4.23% of the company’s stock.

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.