NVIDIA Corporation $NVDA Stake Reduced by Pitcairn Co.

Pitcairn Co. lessened its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 10.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 319,752 shares of the computer hardware maker’s stock after selling 36,066 shares during the quarter. NVIDIA makes up approximately 3.3% of Pitcairn Co.’s portfolio, making the stock its 3rd biggest position. Pitcairn Co.’s holdings in NVIDIA were worth $50,518,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in NVIDIA by 12.4% during the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock valued at $43,631,000 after acquiring an additional 35,815 shares in the last quarter. Bank Pictet & Cie Europe AG lifted its stake in shares of NVIDIA by 1.0% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock valued at $315,100,000 after purchasing an additional 22,929 shares during the period. Highview Capital Management LLC DE boosted its position in shares of NVIDIA by 6.7% during the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock valued at $7,842,000 after purchasing an additional 3,653 shares in the last quarter. Hudson Value Partners LLC boosted its position in shares of NVIDIA by 30.7% during the fourth quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker’s stock valued at $6,805,000 after purchasing an additional 11,900 shares in the last quarter. Finally, Wealth Group Ltd. grew its stake in NVIDIA by 15.7% in the first quarter. Wealth Group Ltd. now owns 6,598 shares of the computer hardware maker’s stock worth $715,000 after purchasing an additional 896 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Down 3.3%

NVIDIA stock opened at $175.02 on Monday. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $212.19. The company has a market cap of $4.25 trillion, a P/E ratio of 43.43, a P/E/G ratio of 0.86 and a beta of 2.29. The company has a quick ratio of 3.71, a current ratio of 4.47 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $186.69 and a two-hundred day simple moving average of $174.09.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.07. NVIDIA had a net margin of 53.01% and a return on equity of 99.24%. The firm had revenue of $57.01 billion during the quarter, compared to the consensus estimate of $54.66 billion. During the same quarter in the previous year, the firm posted $0.81 EPS. The company’s revenue for the quarter was up 62.5% compared to the same quarter last year. Analysts predict that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 4th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. The ex-dividend date of this dividend is Thursday, December 4th. NVIDIA’s payout ratio is presently 0.99%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NVDA shares. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research report on Tuesday, December 9th. Wall Street Zen raised shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Raymond James Financial set a $272.00 target price on shares of NVIDIA and gave the company a “strong-buy” rating in a research note on Thursday, November 20th. Arete Research lifted their target price on shares of NVIDIA from $244.00 to $261.00 and gave the company a “buy” rating in a report on Tuesday, November 25th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $265.00 price target (up previously from $220.00) on shares of NVIDIA in a research note on Friday, November 14th. Four investment analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Buy” and an average target price of $258.65.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 350,000 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $176.39, for a total value of $61,736,500.00. Following the completion of the transaction, the director directly owned 7,399,803 shares in the company, valued at $1,305,251,251.17. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Harvey C. Jones sold 250,000 shares of the stock in a transaction on Thursday, September 18th. The stock was sold at an average price of $176.21, for a total value of $44,052,500.00. Following the completion of the sale, the director owned 7,183,280 shares of the company’s stock, valued at $1,265,765,768.80. The trade was a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 2,754,474 shares of company stock valued at $499,562,617 in the last 90 days. Corporate insiders own 4.17% of the company’s stock.

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.