Chevy Chase Trust Holdings LLC Has $2.06 Billion Position in NVIDIA Co. (NASDAQ:NVDA)

Chevy Chase Trust Holdings LLC decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 2.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 16,939,337 shares of the computer hardware maker’s stock after selling 457,253 shares during the quarter. NVIDIA accounts for about 6.3% of Chevy Chase Trust Holdings LLC’s holdings, making the stock its 3rd biggest position. Chevy Chase Trust Holdings LLC’s holdings in NVIDIA were worth $2,057,113,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quest Partners LLC bought a new position in NVIDIA during the 2nd quarter worth $27,000. Christopher J. Hasenberg Inc acquired a new position in NVIDIA during the 3rd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new stake in NVIDIA during the 2nd quarter worth $31,000. West Financial Advisors LLC acquired a new stake in NVIDIA during the 3rd quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. increased its holdings in NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after purchasing an additional 140 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction 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 owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % 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 in the last three months. 4.23% of the stock is owned by corporate insiders.

NVIDIA Price Performance

NVDA stock opened at $136.32 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $54.74 and a 1 year high of $153.13. The firm has a 50-day moving average of $139.68 and a 200 day moving average of $128.82. The company has a market cap of $3.34 trillion, a P/E ratio of 53.65, a PEG ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. During the same quarter in the prior year, the company earned $0.38 EPS. The business’s revenue was up 93.6% compared to the same quarter last year. On average, sell-side analysts forecast that NVIDIA Co. will post 2.78 EPS for the current 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 given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Bank of America reiterated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research report on Thursday, November 21st. DA Davidson upped their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Stifel Nicolaus lifted their price target on NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Morgan Stanley increased their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Finally, Melius Research boosted their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Four analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has a consensus 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.