Berkshire Bank Trims Holdings in NVIDIA Co. (NASDAQ:NVDA)

Berkshire Bank trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.9% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,857 shares of the computer hardware maker’s stock after selling 1,171 shares during the quarter. NVIDIA accounts for approximately 2.1% of Berkshire Bank’s investment portfolio, making the stock its 8th largest position. Berkshire Bank’s holdings in NVIDIA were worth $7,853,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in NVIDIA by 1.1% during the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock worth $88,598,850,000 after buying an additional 2,287,471 shares during the period. Geode Capital Management LLC boosted its stake in shares of NVIDIA by 0.6% during the first quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock valued at $12,763,663,000 after purchasing an additional 267,061 shares during the period. Morgan Stanley boosted its stake in shares of NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after purchasing an additional 4,621,002 shares during the period. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter valued at $3,900,874,000. Finally, Northern Trust Corp boosted its stake in shares of NVIDIA by 3.6% during the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after purchasing an additional 910,009 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NVDA shares. Wells Fargo & Company boosted their target price on shares of NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. The Goldman Sachs Group boosted their target price on shares of NVIDIA from $875.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. CICC Research assumed coverage on shares of NVIDIA in a research note on Wednesday, March 6th. They issued an “outperform” rating and a $870.00 price objective for the company. TD Cowen upped their price objective on shares of NVIDIA from $900.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Finally, Oppenheimer upped their price objective on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $908.68.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The shares were sold at an average price of $905.65, for a total transaction of $9,962,150.00. Following the sale, the director now owns 1,074,833 shares of the company’s stock, valued at approximately $973,422,506.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director John Dabiri sold 128 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the sale, the director now owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 11,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $905.65, for a total transaction of $9,962,150.00. Following the sale, the director now directly owns 1,074,833 shares in the company, valued at approximately $973,422,506.45. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,226 shares of company stock valued at $71,759,148. 3.99% of the stock is owned by insiders.

NVIDIA Stock Performance

NVDA opened at $880.08 on Monday. NVIDIA Co. has a 12-month low of $262.20 and a 12-month high of $974.00. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $2.20 trillion, a PE ratio of 73.71, a P/E/G ratio of 1.27 and a beta of 1.73. The firm has a 50 day moving average of $806.46 and a two-hundred day moving average of $594.66.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period last year, the firm posted $0.65 EPS. NVIDIA’s revenue for the quarter was up 265.3% compared to the same quarter last year. On average, analysts anticipate that NVIDIA Co. will post 22.45 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio is presently 1.34%.

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.