Peddock Capital Advisors LLC Decreases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Peddock Capital Advisors LLC cut its stake in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 1.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 429,236 shares of the computer hardware maker’s stock after selling 4,885 shares during the period. NVIDIA comprises 13.8% of Peddock Capital Advisors LLC’s portfolio, making the stock its biggest holding. Peddock Capital Advisors LLC’s holdings in NVIDIA were worth $57,642,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc boosted its stake in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after buying an additional 191,469,114 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in NVIDIA by 1,123.2% in the second quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of NVIDIA by 808.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after purchasing an additional 73,589,208 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in NVIDIA by 882.4% in the second quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock worth $9,098,519,000 after purchasing an additional 66,151,750 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a report on Wednesday, January 8th. Citigroup upped their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Wells Fargo & Company upped their price target on NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. TD Cowen boosted their target price on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Finally, Melius Research raised their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $166.23.

Read Our Latest Research Report on NVDA

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $123.43 on Thursday. The stock has a market cap of $3.02 trillion, a PE ratio of 48.58, a price-to-earnings-growth ratio of 2.65 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a fifty day moving average price of $137.91 and a 200-day moving average price of $129.44. NVIDIA Co. has a 1 year low of $60.70 and a 1 year high of $153.13.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 earnings per share. Equities analysts anticipate that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

Insider Buying and Selling

In other NVIDIA 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 value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $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 a total of 1,108,348 shares of company stock worth $146,506,958 over the last three months. 4.23% of the stock is owned by insiders.

NVIDIA Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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