NVIDIA Co. (NASDAQ:NVDA) Stock Position Cut by Kingfisher Capital LLC

Kingfisher Capital LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 13.1% during the third quarter, Holdings Channel reports. The institutional investor owned 132,846 shares of the computer hardware maker’s stock after selling 20,099 shares during the quarter. NVIDIA comprises about 3.7% of Kingfisher Capital LLC’s portfolio, making the stock its 2nd largest holding. Kingfisher Capital LLC’s holdings in NVIDIA were worth $16,133,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ironwood Wealth Management LLC. boosted its holdings in shares of NVIDIA by 896.9% in the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after acquiring an additional 5,695 shares during the period. Financial Guidance Group Inc. raised its position in NVIDIA by 900.0% in the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after acquiring an additional 3,240 shares in the last quarter. Planning Alternatives Ltd. ADV purchased a new position in NVIDIA in the second quarter worth $215,000. Kanawha Capital Management LLC increased its position in shares of NVIDIA by 1,142.7% in the second quarter. Kanawha Capital Management LLC now owns 23,065 shares of the computer hardware maker’s stock valued at $2,849,000 after buying an additional 21,209 shares in the last quarter. Finally, Cape ANN Savings Bank increased its position in shares of NVIDIA by 1,917.7% in the second quarter. Cape ANN Savings Bank now owns 13,680 shares of the computer hardware maker’s stock valued at $1,690,000 after buying an additional 13,002 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Trading Down 2.0 %

NASDAQ:NVDA opened at $133.23 on Tuesday. 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 Co. has a one year low of $54.74 and a one year high of $153.13. The business’s 50-day simple moving average is $139.84 and its 200 day simple moving average is $128.76. The stock has a market cap of $3.26 trillion, a price-to-earnings ratio of 52.43, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.12. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.38 earnings per share. As a group, sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research analyst reports. William Blair initiated coverage on NVIDIA in a research report on Wednesday, September 18th. They issued an “outperform” rating for the company. The Goldman Sachs Group increased their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Morgan Stanley increased their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Wedbush raised their price target on NVIDIA from $160.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, UBS Group upped their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and an average target price of $164.27.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 over the last three months. 4.23% of the stock is owned by insiders.

NVIDIA Company 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.