Northcape Capital Pty Ltd Cuts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Northcape Capital Pty Ltd lowered its position in NVIDIA Co. (NASDAQ:NVDA) by 18.5% in the 4th quarter, Holdings Channel reports. The fund owned 43,712 shares of the computer hardware maker’s stock after selling 9,924 shares during the quarter. NVIDIA accounts for 0.9% of Northcape Capital Pty Ltd’s holdings, making the stock its 8th biggest holding. Northcape Capital Pty Ltd’s holdings in NVIDIA were worth $5,870,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVDA. Quest Partners LLC bought a new position in shares of NVIDIA during the second quarter valued at $27,000. Christopher J. Hasenberg Inc purchased a new stake in NVIDIA during the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA during the 2nd quarter valued at about $31,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA during the 4th quarter valued at about $34,000. Finally, West Financial Advisors LLC purchased a new position in NVIDIA in the third quarter worth about $36,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, November 21st. Oppenheimer reissued an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Melius Research boosted their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Raymond James increased their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Finally, Robert W. Baird boosted their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $164.63.

NVIDIA Stock Performance

NASDAQ NVDA opened at $142.62 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. NVIDIA Co. has a twelve month low of $60.57 and a twelve month high of $153.13. The business has a 50-day moving average price of $138.72 and a 200-day moving average price of $129.57. The firm has a market cap of $3.49 trillion, a price-to-earnings ratio of 56.13, a price-to-earnings-growth ratio of 2.65 and a beta of 1.64.

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

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. 4.23% of the stock is owned by insiders.

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.