J.P. Marvel Investment Advisors LLC Trims Stock Position in NVIDIA Corporation $NVDA

J.P. Marvel Investment Advisors LLC reduced its stake in shares of NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 10.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 581,610 shares of the computer hardware maker's stock after selling 66,144 shares during the period. NVIDIA accounts for approximately 10.9% of J.P. Marvel Investment Advisors LLC's investment portfolio, making the stock its biggest position. J.P. Marvel Investment Advisors LLC's holdings in NVIDIA were worth $63,035,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NVDA. FMR LLC lifted its stake in shares of NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC grew its stake in NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after acquiring an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank bought a new position in shares of NVIDIA in the 4th quarter worth $43,515,504,000. Finally, Northern Trust Corp raised its holdings in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Stock Performance

NVDA traded up $0.15 on Wednesday, hitting $181.92. The company's stock had a trading volume of 131,917,903 shares, compared to its average volume of 238,362,547. NVIDIA Corporation has a 12 month low of $86.62 and a 12 month high of $184.48. The firm has a market cap of $4.44 trillion, a P/E ratio of 58.68, a price-to-earnings-growth ratio of 1.57 and a beta of 2.14. The company has a quick ratio of 2.96, a current ratio of 3.39 and a debt-to-equity ratio of 0.10. The company's 50 day simple moving average is $168.81 and its 200-day simple moving average is $138.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%.The company's revenue was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.61 EPS. Analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

Analyst Upgrades and Downgrades

NVDA has been the subject of several recent research reports. UBS Group upped their price target on NVIDIA from $175.00 to $205.00 and gave the stock a "buy" rating in a report on Thursday, August 21st. Seaport Res Ptn upgraded shares of NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. The Goldman Sachs Group initiated coverage on shares of NVIDIA in a report on Thursday, July 10th. They set a "buy" rating and a $185.00 price target on the stock. BNP Paribas upgraded shares of NVIDIA to a "hold" rating in a research note on Friday, August 1st. Finally, Loop Capital increased their price target on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Four equities research analysts have rated the stock with a Strong Buy rating, thirty-two have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $194.31.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 935,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director directly owned 9,214,697 shares in the company, valued at $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the company's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the sale, the director directly owned 26,671,360 shares in the company, valued at $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,912,440 shares of company stock worth $902,886,782 over the last quarter. 4.17% 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.