Primecap Management Co. CA Cuts Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Primecap Management Co. CA trimmed its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 21,468,280 shares of the computer hardware maker’s stock after selling 201,700 shares during the quarter. NVIDIA accounts for approximately 1.9% of Primecap Management Co. CA’s portfolio, making the stock its 13th largest position. Primecap Management Co. CA’s holdings in NVIDIA were worth $2,607,108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lantz Financial LLC increased its stake in shares of NVIDIA by 833.1% during the second quarter. Lantz Financial LLC now owns 41,188 shares of the computer hardware maker’s stock valued at $5,088,000 after buying an additional 36,774 shares during the period. Ironwood Wealth Management LLC. increased its position in shares of NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after buying an additional 5,695 shares during the period. Hobbs Group Advisors LLC bought a new stake in NVIDIA during the 2nd quarter valued at approximately $1,252,000. Focus Financial Network Inc. boosted its position in shares of NVIDIA by 1,026.3% during the second quarter. Focus Financial Network Inc. now owns 1,812,060 shares of the computer hardware maker’s stock valued at $213,805,000 after purchasing an additional 1,651,175 shares in the last quarter. Finally, Horizons Wealth Management raised its holdings in NVIDIA by 842.9% in the second quarter. Horizons Wealth Management now owns 1,320 shares of the computer hardware maker’s stock worth $156,000 after purchasing an additional 1,180 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 3.4 %

Shares of NVDA stock opened at $149.43 on Tuesday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12-month low of $49.48 and a 12-month high of $152.89. The stock’s 50-day moving average price is $139.75 and its 200-day moving average price is $128.28. The stock has a market capitalization of $3.66 trillion, a price-to-earnings ratio of 58.81, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating the consensus estimate of $0.69 by $0.12. The business 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 quarterly revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.38 earnings per share. Equities research analysts predict that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following 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 trade represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated 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 completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,226,886 shares of company stock worth $161,499,400 over the last 90 days. Company insiders own 4.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NVDA shares. Loop Capital reiterated a “buy” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Wednesday, November 20th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $200.00 target price on shares of NVIDIA in a report on Monday, November 18th. Truist Financial upped their price objective on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Finally, Raymond James raised their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA 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.