Perkins Coie Trust Co Has $5.83 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Perkins Coie Trust Co boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 37.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,439 shares of the computer hardware maker’s stock after purchasing an additional 11,931 shares during the period. NVIDIA comprises about 1.3% of Perkins Coie Trust Co’s portfolio, making the stock its 21st largest holding. Perkins Coie Trust Co’s holdings in NVIDIA were worth $5,833,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of NVDA. Christopher J. Hasenberg Inc acquired a new stake in shares of NVIDIA in the third quarter valued at approximately $27,000. Quest Partners LLC acquired a new position in shares of NVIDIA during the 2nd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA in the 2nd quarter valued at $31,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the 4th quarter valued at about $34,000. Finally, West Financial Advisors LLC acquired a new stake in NVIDIA during the third quarter worth approximately $36,000. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $129.84 on Friday. The firm has a 50 day moving average of $135.48 and a 200-day moving average of $129.35. The company has a market cap of $3.18 trillion, a price-to-earnings ratio of 51.10, a price-to-earnings-growth ratio of 2.16 and a beta of 1.62. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52 week low of $66.25 and a 52 week high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the company posted $0.38 earnings per share. The business’s quarterly revenue was up 93.6% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Melius Research increased their price objective on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Redburn Atlantic assumed coverage on NVIDIA in a research note on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Robert W. Baird boosted their target price on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Phillip Securities reiterated an “accumulate” rating and issued a $160.00 price target (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $166.23.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock worth $146,506,958 in the last quarter. Insiders own 4.23% of the company’s stock.

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.