Progressive Investment Management Corp Has $20.58 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Progressive Investment Management Corp reduced its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 2.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 153,211 shares of the computer hardware maker's stock after selling 3,201 shares during the quarter. NVIDIA makes up about 5.3% of Progressive Investment Management Corp's portfolio, making the stock its 5th largest position. Progressive Investment Management Corp's holdings in NVIDIA were worth $20,575,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NVDA. SOA Wealth Advisors LLC. increased its position in NVIDIA by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock valued at $14,650,000 after buying an additional 350 shares in the last quarter. Swedbank AB grew its stake in NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker's stock valued at $4,965,526,000 after acquiring an additional 1,868,358 shares during the period. Principal Financial Group Inc. increased its holdings in shares of NVIDIA by 3.7% during the third quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker's stock valued at $4,326,576,000 after acquiring an additional 1,285,897 shares in the last quarter. Seelaus Asset Management LLC raised its position in shares of NVIDIA by 4.1% during the third quarter. Seelaus Asset Management LLC now owns 9,985 shares of the computer hardware maker's stock worth $1,213,000 after purchasing an additional 395 shares during the period. Finally, Meridian Investment Counsel Inc. lifted its holdings in shares of NVIDIA by 0.9% in the 3rd quarter. Meridian Investment Counsel Inc. now owns 17,615 shares of the computer hardware maker's stock worth $2,139,000 after purchasing an additional 160 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

Insiders Place Their Bets

In related news, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the company's stock in a transaction on 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 sale, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at approximately $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 have sold 147,147 shares of company stock worth $17,133,207. Company insiders own 4.23% of the company's stock.

NVIDIA Trading Up 2.5 %

Shares of NVDA stock opened at $111.61 on Friday. NVIDIA Co. has a 1 year low of $83.20 and a 1 year high of $195.95. The stock has a market capitalization of $2.72 trillion, a price-to-earnings ratio of 43.92, a PEG ratio of 1.76 and a beta of 1.96. 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 company's fifty day simple moving average is $111.09 and its two-hundred day simple moving average is $128.31.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (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 analysts' expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA's dividend payout ratio is presently 1.36%.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several research reports. Cantor Fitzgerald restated an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Hsbc Global Res lowered shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, April 3rd. Tigress Financial reaffirmed a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. Morgan Stanley lowered their price objective on NVIDIA from $162.00 to $160.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, Raymond James reaffirmed a "strong-buy" rating on shares of NVIDIA in a research report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $164.96.

NVIDIA Company 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.

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