NVIDIA Co. (NASDAQ:NVDA) Stake Lowered by Hudson Canyon Capital Management

Hudson Canyon Capital Management lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 13,686 shares of the computer hardware maker’s stock after selling 311 shares during the period. NVIDIA comprises approximately 4.9% of Hudson Canyon Capital Management’s holdings, making the stock its 3rd largest holding. Hudson Canyon Capital Management’s holdings in NVIDIA were worth $6,778,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in NVDA. LFA Lugano Financial Advisors SA purchased a new position in shares of NVIDIA during the fourth quarter valued at $28,000. Peoples Financial Services CORP. purchased a new position in NVIDIA in the third quarter valued at about $30,000. Your Advocates Ltd. LLP purchased a new position in NVIDIA in the third quarter valued at about $30,000. Quarry LP purchased a new position in NVIDIA in the first quarter valued at about $34,000. Finally, Compass Wealth Management LLC purchased a new position in NVIDIA in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on NVDA shares. Jefferies Financial Group lifted their target price on NVIDIA from $610.00 to $780.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Tigress Financial lifted their target price on NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Argus lifted their target price on NVIDIA from $850.00 to $950.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Sanford C. Bernstein lifted their target price on NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Finally, Piper Sandler raised their price target on NVIDIA from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $940.30.

Insider Activity

In other news, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 11,000 shares of the business’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 value of $9,962,150.00. Following the completion of the sale, the director now owns 1,074,833 shares of the company’s stock, valued at $973,422,506.45. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock worth $52,689,898 over the last three months. 3.99% of the stock is currently owned by corporate insiders.

NVIDIA Trading Up 1.6 %

Shares of NASDAQ:NVDA opened at $874.15 on Wednesday. NVIDIA Co. has a 12-month low of $262.25 and a 12-month high of $974.00. The company has a market capitalization of $2.19 trillion, a PE ratio of 73.21, a PEG ratio of 1.27 and a beta of 1.73. The business has a 50 day moving average of $838.10 and a two-hundred day moving average of $616.90. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20.

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

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) 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.