NVIDIA Co. (NASDAQ:NVDA) is Granite Investment Partners LLC's 5th Largest Position

Granite Investment Partners LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319,767 shares of the computer hardware maker's stock after selling 18,949 shares during the quarter. NVIDIA makes up approximately 1.9% of Granite Investment Partners LLC's investment portfolio, making the stock its 5th largest position. Granite Investment Partners LLC's holdings in NVIDIA were worth $42,942,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. DiNuzzo Private Wealth Inc. boosted its stake in NVIDIA by 0.8% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock valued at $1,157,000 after purchasing an additional 71 shares during the last quarter. Baker Boyer National Bank boosted its stake in shares of NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after buying an additional 76 shares during the last quarter. Kwmg LLC grew its stake in NVIDIA by 0.6% in the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock valued at $1,755,000 after purchasing an additional 77 shares during the period. SC&H Financial Advisors Inc. grew its position in NVIDIA by 1.6% during the fourth 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 during the period. Finally, DecisionPoint Financial LLC increased its stake 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 purchasing an additional 80 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Up 5.6%

Shares of NASDAQ NVDA traded up $6.93 during midday trading on Tuesday, hitting $129.93. The stock had a trading volume of 327,417,936 shares, compared to its average volume of 296,175,948. The business's 50 day moving average is $110.40 and its 200-day moving average is $127.06. 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 52 week low of $86.62 and a 52 week high of $195.95. The company has a market cap of $3.18 trillion, a P/E ratio of 51.13, a PEG ratio of 1.76 and a beta of 2.11.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly 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 analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid 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 dividend payout ratio (DPR) is presently 1.36%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NVDA shares. Seaport Res Ptn upgraded NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Barclays dropped their price objective on NVIDIA from $175.00 to $155.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. UBS Group decreased their price target on shares of NVIDIA from $180.00 to $175.00 and set a "buy" rating on the stock in a report on Monday. Mizuho decreased their price objective on NVIDIA from $175.00 to $168.00 and set an "outperform" rating on the stock in a report on Friday, March 14th. Finally, Bank of America cut their price target on shares of NVIDIA from $200.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $164.84.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now directly owns 17,279 shares of the company's stock, valued at $1,900,690. This trade represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the company's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the transaction, the director now owns 251,044 shares of the company's stock, valued at $28,993,071.56. The trade was a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 in the last 90 days. Company insiders own 4.23% of the company's stock.

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.