NVIDIA Co. (NASDAQ:NVDA) Position Lowered by Old North State Trust LLC

Old North State Trust LLC trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 44,870 shares of the computer hardware maker’s stock after selling 117 shares during the period. NVIDIA accounts for 4.4% of Old North State Trust LLC’s portfolio, making the stock its 5th largest holding. Old North State Trust LLC’s holdings in NVIDIA were worth $5,449,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC grew its position in NVIDIA by 2.2% in the third 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 in the last quarter. Legal & General Group Plc lifted its stake 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 valued at $26,329,751,000 after purchasing an additional 191,469,114 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of NVIDIA by 3.8% in the 3rd 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 worth $21,908,236,000 after purchasing an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of NVIDIA by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after purchasing an additional 2,042,348 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several recent analyst reports. Evercore ISI lifted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. UBS Group lifted their price target on shares of NVIDIA from $150.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Susquehanna increased their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. The Goldman Sachs Group raised their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Piper Sandler upped their target price on NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $164.63.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the firm’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 transaction of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of the firm’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 trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 over the last ninety days. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Up 4.4 %

Shares of NVDA stock opened at $147.07 on Thursday. The stock’s fifty day moving average price is $138.69 and its 200 day moving average price is $129.22. NVIDIA Co. has a 1-year low of $58.58 and a 1-year high of $153.13. The company has a market cap of $3.60 trillion, a price-to-earnings ratio of 57.88, a price-to-earnings-growth ratio of 2.48 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly 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. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.38 earnings per share. On average, research analysts expect that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

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.