Covenant Partners LLC trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 8.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,850 shares of the computer hardware maker's stock after selling 3,656 shares during the period. NVIDIA comprises about 1.6% of Covenant Partners LLC's portfolio, making the stock its 11th largest position. Covenant Partners LLC's holdings in NVIDIA were worth $5,217,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in NVDA. Hickory Point Bank & Trust acquired a new stake in NVIDIA in the 4th quarter valued at $2,272,000. Capital Performance Advisors LLP grew its holdings 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 valued at $3,586,000 after acquiring an additional 9,944 shares in the last quarter. Waddell & Associates LLC increased its position in shares of NVIDIA by 1.2% in the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock valued at $3,240,000 after acquiring an additional 297 shares during the last quarter. Strategy Asset Managers LLC raised its holdings in 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 acquiring an additional 405 shares in the last quarter. Finally, Ethos Financial Group LLC boosted its position in NVIDIA by 24.1% during 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. 65.27% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the company. Truist Financial upped their price objective on NVIDIA from $204.00 to $205.00 and gave the stock a "buy" rating in a research note on Thursday, February 27th. Raymond James reaffirmed a "strong-buy" rating on shares of NVIDIA in a research report on Wednesday, April 16th. Tigress Financial reissued a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. Benchmark restated a "buy" rating and set a $190.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Rosenblatt Securities cut their target price on shares of NVIDIA from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $167.53.
Check Out Our Latest Research Report on NVDA
Insider Activity
In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The transaction 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 the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This trade represents a 13.35% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,147 shares of company stock worth $17,133,207. Insiders own 4.17% of the company's stock.
NVIDIA Price Performance
Shares of NVDA traded up $4.21 during midday trading on Tuesday, hitting $135.50. The company's stock had a trading volume of 191,793,409 shares, compared to its average volume of 288,540,280. 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 one year low of $86.62 and a one year high of $195.95. The stock has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.33, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. The company's fifty day simple moving average is $114.17 and its two-hundred day simple moving average is $126.54.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 55.69% and a return on equity of 114.83%. As a group, 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 declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.
NVIDIA Company Profile
(
Free Report)
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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