NVIDIA Co. (NASDAQ:NVDA) is Forbes J M & Co. LLP’s 4th Largest Position

Forbes J M & Co. LLP lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 7.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,824 shares of the computer hardware maker’s stock after selling 35,173 shares during the quarter. NVIDIA makes up approximately 5.9% of Forbes J M & Co. LLP’s holdings, making the stock its 4th biggest position. Forbes J M & Co. LLP’s holdings in NVIDIA were worth $60,944,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC increased its position in NVIDIA by 12,898.6% during the third quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after buying an additional 55,859,917 shares during the last quarter. Clear Street Derivatives LLC acquired a new position in shares of NVIDIA during the 3rd quarter valued at about $4,589,905,000. Geode Capital Management LLC raised its stake in shares of NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock valued at $66,101,133,000 after acquiring an additional 11,525,969 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in 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 last quarter. Finally, National Pension Service boosted its position in NVIDIA by 14.9% during the third quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock worth $5,734,483,000 after purchasing an additional 6,118,674 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

NVIDIA stock opened at $112.69 on Monday. The stock’s 50 day moving average is $131.66 and its 200 day moving average is $131.68. NVIDIA Co. has a one year low of $75.61 and a one year high of $153.13. The firm has a market cap of $2.75 trillion, a P/E ratio of 44.35, a P/E/G ratio of 1.76 and a beta of 1.77. 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 posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, research analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In other news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated 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 transaction, the director now owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,107,632 shares of company stock valued at $146,405,286 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. The Goldman Sachs Group upped their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Wedbush restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research note on Thursday, February 20th. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Citigroup increased their price objective on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, TD Cowen boosted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Four 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. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.69.

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.