NVIDIA Co. (NASDAQ:NVDA) Shares Sold by WASHINGTON TRUST Co

WASHINGTON TRUST Co trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 640,749 shares of the computer hardware maker’s stock after selling 36,893 shares during the period. NVIDIA makes up about 3.1% of WASHINGTON TRUST Co’s holdings, making the stock its 6th largest holding. WASHINGTON TRUST Co’s holdings in NVIDIA were worth $86,046,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Legend Financial Advisors Inc. acquired a new stake in NVIDIA during the fourth quarter worth approximately $34,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA during the fourth quarter worth approximately $40,000. DHJJ Financial Advisors Ltd. increased its holdings in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the period. Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA during the fourth quarter worth approximately $46,000. Finally, 1620 Investment Advisors Inc. increased its holdings in shares of NVIDIA by 145.9% during the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock worth $51,000 after purchasing an additional 248 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at NVIDIA

In other news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,449 shares of company stock valued at $11,960,727 over the last three months. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 3.4 %

NVDA opened at $115.43 on Wednesday. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.82 trillion, a P/E ratio of 45.43, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a fifty day moving average price of $128.17 and a two-hundred day moving average price of $131.21.

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

NVIDIA Announces Dividend

The firm also recently announced 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 of this dividend is Wednesday, March 12th. NVIDIA’s payout ratio is presently 1.36%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. TD Cowen raised their target price on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Stifel Nicolaus raised their target price on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. DA Davidson reissued a “neutral” rating and issued a $135.00 price objective on shares of NVIDIA in a research note on Thursday, February 27th. Finally, HSBC decreased their price objective on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

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.