J.P. Marvel Investment Advisors LLC Sells 8,918 Shares of NVIDIA Co. (NASDAQ:NVDA)

J.P. Marvel Investment Advisors LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 647,754 shares of the computer hardware maker’s stock after selling 8,918 shares during the quarter. NVIDIA comprises approximately 14.4% of J.P. Marvel Investment Advisors LLC’s investment portfolio, making the stock its biggest position. J.P. Marvel Investment Advisors LLC’s holdings in NVIDIA were worth $86,987,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the fourth quarter valued at approximately $34,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA during the 4th quarter worth $40,000. DHJJ Financial Advisors Ltd. lifted its position in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares during the last quarter. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the fourth quarter valued at about $46,000. Finally, 1620 Investment Advisors Inc. grew its position in NVIDIA by 145.9% in the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after acquiring an additional 248 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction on 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. This trade represents a 17.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were 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 $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 92,449 shares of company stock worth $11,960,727 over the last three months. 4.23% of the stock is currently owned by insiders.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $118.53 on Friday. 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 firm’s 50-day moving average price is $127.28 and its 200-day moving average price is $131.03. The firm has a market capitalization of $2.89 trillion, a P/E ratio of 46.65, a P/E/G ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $153.13.

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

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. increased their target price on shares of NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Phillip Securities reissued an “accumulate” rating and issued a $160.00 price objective (up previously from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research note on Wednesday. Oppenheimer reiterated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Finally, Stifel Nicolaus set a $180.00 price objective on NVIDIA in a report on Wednesday. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average 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.