Chase Investment Counsel Corp Lowers Position in NVIDIA Co. (NASDAQ:NVDA)

Chase Investment Counsel Corp lowered its holdings in NVIDIA Co. (NASDAQ:NVDA) by 8.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 106,549 shares of the computer hardware maker’s stock after selling 10,390 shares during the quarter. NVIDIA comprises approximately 4.6% of Chase Investment Counsel Corp’s holdings, making the stock its biggest holding. Chase Investment Counsel Corp’s holdings in NVIDIA were worth $14,308,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the fourth quarter valued at about $34,000. Luken Investment Analytics LLC bought a new position in NVIDIA in the 4th quarter valued at about $40,000. Lowe Wealth Advisors LLC bought a new position in NVIDIA in the 4th quarter valued at about $46,000. 1620 Investment Advisors Inc. raised its position in shares of NVIDIA by 145.9% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after buying an additional 248 shares in the last quarter. Finally, Gleason Group Inc. lifted its holdings in shares of NVIDIA by 52.9% during the 4th quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker’s stock worth $58,000 after acquiring an additional 148 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NVDA. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target for the company. in a report on Thursday. Susquehanna reaffirmed a “positive” rating and issued a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Mizuho lowered their target price on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research note on Friday, March 14th. Six analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $169.89.

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. This represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 183,609 shares of company stock worth $22,642,615 in the last quarter. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 7.4 %

NVIDIA stock opened at $94.31 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2.30 trillion, a PE ratio of 37.12, a PEG ratio of 1.76 and a beta of 1.96. The firm’s fifty day moving average is $121.20 and its 200 day moving average is $131.07. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $195.95.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The business 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%. As a group, sell-side analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

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.