Shell Asset Management Co. Reduces Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Shell Asset Management Co. reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 2.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,025,697 shares of the computer hardware maker's stock after selling 30,117 shares during the quarter. NVIDIA accounts for about 6.0% of Shell Asset Management Co.'s investment portfolio, making the stock its 2nd largest holding. Shell Asset Management Co.'s holdings in NVIDIA were worth $137,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in NVDA. DiNuzzo Private Wealth Inc. lifted its position in NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock worth $1,157,000 after purchasing an additional 71 shares during the period. Baker Boyer National Bank increased its holdings in NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock valued at $323,000 after buying an additional 76 shares during the period. SC&H Financial Advisors Inc. raised its position in shares of NVIDIA by 1.6% in the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock valued at $681,000 after buying an additional 80 shares in the last quarter. DecisionPoint Financial LLC lifted its holdings in shares of NVIDIA by 2.9% during the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker's stock worth $386,000 after acquiring an additional 80 shares during the period. Finally, Matthew Goff Investment Advisor LLC lifted its holdings in shares of NVIDIA by 0.7% during the 4th quarter. Matthew Goff Investment Advisor LLC now owns 11,496 shares of the computer hardware maker's stock worth $1,544,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NVDA shares. Needham & Company LLC reissued a "buy" rating and issued a $160.00 price objective on shares of NVIDIA in a research note on Thursday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. KeyCorp set a $190.00 price objective on NVIDIA in a research report on Wednesday, March 19th. Finally, Barclays reiterated an "overweight" rating and issued a $170.00 target price (up previously from $155.00) on shares of NVIDIA in a research report on Thursday. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $171.66.

NVIDIA Trading Down 3.5%

NVIDIA stock traded down $4.91 during trading hours on Friday, reaching $134.28. 332,224,842 shares of the company's stock were exchanged, compared to its average volume of 284,499,573. The firm's 50 day simple moving average is $115.48 and its 200 day simple moving average is $126.38. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $195.95. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market capitalization of $3.28 trillion, a PE ratio of 52.85, a PEG ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company's revenue for the quarter was up 69.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.61 EPS. Research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is 1.29%.

Insider Activity

In other news, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company's stock, valued at $1,900,690. This represents a 13.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 in the last quarter. 4.17% of the stock is owned by corporate insiders.

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.