Praxis Investment Management Inc. Has $92.74 Million Stake in NVIDIA Corporation $NVDA

Praxis Investment Management Inc. trimmed its position in shares of NVIDIA Corporation (NASDAQ:NVDA) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 497,045 shares of the computer hardware maker’s stock after selling 17,615 shares during the quarter. NVIDIA accounts for 5.6% of Praxis Investment Management Inc.’s portfolio, making the stock its largest position. Praxis Investment Management Inc.’s holdings in NVIDIA were worth $92,739,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Morton Brown Family Wealth LLC grew its position in shares of NVIDIA by 1.5% in the 2nd quarter. Morton Brown Family Wealth LLC now owns 3,928 shares of the computer hardware maker’s stock valued at $621,000 after purchasing an additional 58 shares during the period. Roof Eidam Maycock Peralta LLC lifted its stake in NVIDIA by 0.3% in the second quarter. Roof Eidam Maycock Peralta LLC now owns 20,903 shares of the computer hardware maker’s stock valued at $3,302,000 after buying an additional 58 shares in the last quarter. Alpha Wealth Funds LLC boosted its holdings in shares of NVIDIA by 1.3% in the second quarter. Alpha Wealth Funds LLC now owns 4,634 shares of the computer hardware maker’s stock valued at $732,000 after buying an additional 59 shares during the period. Copia Wealth Management increased its position in shares of NVIDIA by 14.7% during the second quarter. Copia Wealth Management now owns 468 shares of the computer hardware maker’s stock worth $74,000 after acquiring an additional 60 shares in the last quarter. Finally, BKM Wealth Management LLC raised its holdings in shares of NVIDIA by 1.1% during the second quarter. BKM Wealth Management LLC now owns 5,745 shares of the computer hardware maker’s stock worth $908,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 350,000 shares of the business’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $176.39, for a total transaction of $61,736,500.00. Following the transaction, the director owned 7,399,803 shares of the company’s stock, valued at $1,305,251,251.17. The trade was a 4.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Harvey C. Jones sold 250,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 18th. The shares were 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 directly owned 7,183,280 shares of the company’s stock, valued at approximately $1,265,765,768.80. The trade was a 3.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 2,679,474 shares of company stock worth $486,790,117. Company insiders own 4.17% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NVDA. Melius Research upped their target price on shares of NVIDIA from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, November 20th. President Capital boosted their price target on NVIDIA from $240.00 to $245.00 and gave the company a “buy” rating in a report on Friday, November 28th. New Street Research reiterated a “buy” rating and set a $307.00 price objective on shares of NVIDIA in a report on Thursday, October 30th. HSBC set a $320.00 target price on NVIDIA and gave the company a “buy” rating in a research report on Wednesday, October 15th. Finally, BNP Paribas Exane raised their price target on shares of NVIDIA from $240.00 to $250.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 18th. Four research analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $258.65.

NVIDIA Trading Up 0.8%

NASDAQ NVDA opened at $177.72 on Wednesday. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $212.19. The company has a current ratio of 4.47, a quick ratio of 3.71 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $186.36 and a 200-day moving average of $174.65. The company has a market cap of $4.32 trillion, a PE ratio of 44.10, a PEG ratio of 0.86 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $54.66 billion. During the same period in the prior year, the firm posted $0.81 earnings per share. The company’s quarterly revenue was up 62.5% compared to the same quarter last year. On average, equities research analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 4th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. NVIDIA’s dividend payout ratio (DPR) is presently 0.99%.

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.