Comerica Bank Decreases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Comerica Bank reduced its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 2.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,394,774 shares of the computer hardware maker's stock after selling 132,445 shares during the period. NVIDIA accounts for approximately 2.4% of Comerica Bank's investment portfolio, making the stock its 4th largest holding. Comerica Bank's holdings in NVIDIA were worth $590,174,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NVDA. Hickory Point Bank & Trust acquired a new stake in NVIDIA during the 4th quarter worth $2,272,000. Capital Performance Advisors LLP boosted its position in shares of NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock worth $3,586,000 after purchasing an additional 9,944 shares during the last quarter. Waddell & Associates LLC grew its stake in shares of NVIDIA by 1.2% during the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock worth $3,240,000 after purchasing an additional 297 shares during the period. Strategy Asset Managers LLC grew its stake in shares of NVIDIA by 0.8% during the fourth quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker's stock worth $7,024,000 after purchasing an additional 405 shares during the period. Finally, Ethos Financial Group LLC increased its holdings in NVIDIA by 24.1% in the fourth quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker's stock valued at $4,312,000 after purchasing an additional 6,241 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Trading Down 1.9%

NVIDIA stock opened at $131.80 on Thursday. The company has a market cap of $3.22 trillion, a price-to-earnings ratio of 51.87, a P/E/G ratio of 1.76 and a beta of 2.11. The firm has a 50-day moving average of $113.31 and a 200-day moving average of $127.02. 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 Co. has a one year low of $86.62 and a one year high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, equities analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's payout ratio is presently 1.36%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on NVDA shares. Hsbc Global Res lowered NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Cantor Fitzgerald restated an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Susquehanna reissued a "positive" rating and set a $180.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Mizuho lowered their price objective on shares of NVIDIA from $175.00 to $168.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $164.84.

Insider Activity at NVIDIA

In related news, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company's stock, valued at $1,900,690. The trade was a 13.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is owned by corporate insiders.

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.

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