Ridgepath Capital Management LLC Cuts Stake in NVIDIA Co. (NASDAQ:NVDA)

Ridgepath Capital Management LLC decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 49.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,751 shares of the computer hardware maker's stock after selling 7,707 shares during the quarter. NVIDIA comprises approximately 0.5% of Ridgepath Capital Management LLC's investment portfolio, making the stock its 24th largest position. Ridgepath Capital Management LLC's holdings in NVIDIA were worth $1,041,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in NVDA. Palisade Asset Management LLC increased its stake in shares of NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock valued at $1,866,000 after acquiring an additional 75 shares in the last quarter. Blue Square Asset Management LLC increased its stake in shares of NVIDIA by 26.7% in the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker's stock valued at $5,840,000 after acquiring an additional 10,136 shares in the last quarter. Narwhal Capital Management increased its stake in shares of NVIDIA by 5.1% in the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker's stock valued at $66,267,000 after acquiring an additional 26,373 shares in the last quarter. Unique Wealth LLC increased its stake in shares of NVIDIA by 10.0% in the 4th quarter. Unique Wealth LLC now owns 37,629 shares of the computer hardware maker's stock valued at $5,053,000 after acquiring an additional 3,428 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. increased its stake in shares of NVIDIA by 46.7% in the 3rd quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker's stock valued at $2,043,000 after acquiring an additional 5,360 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Performance

NVIDIA stock traded up $4.66 during midday trading on Friday, reaching $124.81. The stock had a trading volume of 387,840,609 shares, compared to its average volume of 274,489,156. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13. The firm's 50-day moving average price is $134.19 and its 200 day moving average price is $131.92. The firm has a market capitalization of $3.05 trillion, a PE ratio of 49.12, a P/E/G ratio of 1.76 and a beta of 1.62. 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 (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to analysts' expectations of $38.16 billion. As a group, research analysts predict 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 will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th 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 is Wednesday, March 12th. NVIDIA's dividend payout ratio is presently 1.36%.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research analyst reports. Rosenblatt Securities reiterated a "buy" rating and issued a $220.00 price objective on shares of NVIDIA in a research note on Monday, February 24th. Mizuho lifted their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the company an "outperform" rating in a research note on Thursday, November 21st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their price target on shares of NVIDIA from $115.00 to $140.00 and gave the company a "hold" rating in a research report on Thursday, November 21st. Finally, Loop Capital reissued a "buy" rating and issued a $175.00 price target on shares of NVIDIA in a research report on Wednesday, November 20th. Five research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA has an average rating of "Moderate Buy" and an average price target of $169.62.

Insider Activity

In other news, EVP Ajay K. Puri sold 36,462 shares of the company's stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the sale, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,107,632 shares of company stock worth $146,405,286 over the last ninety days. Company insiders own 4.23% of the company's stock.

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.