BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 741,863 Shares of NVIDIA Co. (NASDAQ:NVDA)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 11.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,713,515 shares of the computer hardware maker’s stock after selling 741,863 shares during the quarter. NVIDIA accounts for about 4.2% of BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s investment portfolio, making the stock its 3rd biggest holding. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in NVIDIA were worth $693,849,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of NVDA. Ironwood Wealth Management LLC. increased its stake in shares of NVIDIA by 896.9% during the 2nd quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after purchasing an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. grew its holdings in NVIDIA by 900.0% during the second quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock worth $445,000 after purchasing an additional 3,240 shares during the period. Optas LLC increased its position in NVIDIA by 930.2% during the second quarter. Optas LLC now owns 115,412 shares of the computer hardware maker’s stock worth $14,258,000 after buying an additional 104,209 shares during the last quarter. Independence Bank of Kentucky raised its stake in NVIDIA by 910.6% in the second quarter. Independence Bank of Kentucky now owns 56,815 shares of the computer hardware maker’s stock valued at $7,019,000 after buying an additional 51,193 shares during the period. Finally, Keb Asset Management LLC lifted its position in shares of NVIDIA by 1,118.6% in the second quarter. Keb Asset Management LLC now owns 2,815 shares of the computer hardware maker’s stock valued at $348,000 after buying an additional 2,584 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 in the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 1.1 %

Shares of NVIDIA stock opened at $131.76 on Wednesday. NVIDIA Co. has a fifty-two week low of $54.74 and a fifty-two week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market capitalization of $3.23 trillion, a price-to-earnings ratio of 51.85, a PEG ratio of 2.43 and a beta of 1.64. The stock has a 50 day moving average of $139.68 and a 200 day moving average of $128.82.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the prior year, the firm earned $0.38 earnings per share. The firm’s revenue was up 93.6% compared to the same quarter last year. As a group, research analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of research analyst reports. Redburn Atlantic assumed coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 price objective for the company. Needham & Company LLC lifted their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Wells Fargo & Company increased their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Bank of America restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Thursday, November 21st. Finally, William Blair started coverage on NVIDIA in a research note on Wednesday, September 18th. They set an “outperform” rating on the stock. 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 company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $164.27.

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.