Holderness Investments Co. Sells 10,914 Shares of NVIDIA Co. (NASDAQ:NVDA)

Holderness Investments Co. reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 5.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 176,325 shares of the computer hardware maker's stock after selling 10,914 shares during the period. NVIDIA comprises 5.2% of Holderness Investments Co.'s portfolio, making the stock its 3rd largest position. Holderness Investments Co.'s holdings in NVIDIA were worth $23,679,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Tacita Capital Inc acquired a new position in NVIDIA in the fourth quarter worth about $28,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the fourth quarter worth about $34,000. Vision Financial Markets LLC acquired a new position in NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC acquired a new position in NVIDIA in the fourth quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in NVIDIA in the fourth quarter worth about $46,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of research reports. Barclays decreased their price target on NVIDIA from $175.00 to $155.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. DZ Bank upgraded NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. UBS Group restated a "buy" rating on shares of NVIDIA in a research note on Friday. DA Davidson decreased their target price on NVIDIA from $125.00 to $120.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Finally, Raymond James restated a "strong-buy" rating on shares of NVIDIA in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.96.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $2.25 during midday trading on Monday, hitting $108.76. 206,908,127 shares of the company were exchanged, compared to its average volume of 304,253,827. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a market cap of $2.65 trillion, a P/E ratio of 42.80, a PEG ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 52 week low of $81.25 and a 52 week high of $195.95. The firm has a 50 day simple moving average of $112.60 and a 200-day simple moving average of $128.76.

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

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were 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 approximately $1,900,690. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is currently owned by 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.