Vestcor Inc Decreases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Vestcor Inc lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 8.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 531,459 shares of the computer hardware maker’s stock after selling 46,455 shares during the quarter. NVIDIA makes up 2.4% of Vestcor Inc’s portfolio, making the stock its 3rd largest position. Vestcor Inc’s holdings in NVIDIA were worth $71,370,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Clear Street Derivatives LLC bought a new stake in NVIDIA in the 3rd quarter valued at $4,589,905,000. Proficio Capital Partners LLC grew its position in shares of NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. Amundi increased its holdings in shares of NVIDIA by 12.9% in the fourth quarter. Amundi now owns 117,036,612 shares of the computer hardware maker’s stock worth $16,394,224,000 after purchasing an additional 13,406,054 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of NVIDIA by 2.2% in the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after buying an additional 11,525,969 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock valued at $21,908,236,000 after buying an additional 6,526,200 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the topic of several recent research reports. Benchmark reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Morgan Stanley set a $162.00 price target on shares of NVIDIA and gave the company an “overweight” rating in a research note on Wednesday, March 19th. HSBC cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Thursday, April 3rd. Bank of America decreased their target price on shares of NVIDIA from $200.00 to $160.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $165.51.

NVIDIA Trading Down 3.0 %

NASDAQ:NVDA opened at $101.33 on Friday. The firm has a 50-day simple moving average of $117.19 and a 200-day simple moving average of $129.89. NVIDIA Co. has a one year low of $75.61 and a one year high of $195.95. The firm has a market cap of $2.47 trillion, a P/E ratio of 39.88, a P/E/G ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Equities analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $6,300,891.36. The trade was a 27.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is owned by corporate insiders.

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.