Parthenon LLC Reduces Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Parthenon LLC reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,950 shares of the computer hardware maker’s stock after selling 1,000 shares during the quarter. Parthenon LLC’s holdings in NVIDIA were worth $3,216,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. AMF Tjanstepension AB raised its stake in NVIDIA by 2.2% during the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after acquiring an additional 169,445 shares in the last quarter. Wealth Group Ltd. increased its position in shares of NVIDIA by 5.0% during the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after purchasing an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. increased its position in shares of NVIDIA by 0.3% during the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after purchasing an additional 350 shares in the last quarter. Swedbank AB lifted its holdings in shares of NVIDIA by 4.8% in the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares during the last quarter. Finally, Riverview Trust Co boosted its position in shares of NVIDIA by 0.8% in the 3rd quarter. Riverview Trust Co now owns 18,235 shares of the computer hardware maker’s stock valued at $2,214,000 after purchasing an additional 145 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NVDA. Morgan Stanley set a $162.00 price objective on NVIDIA and gave the company an “overweight” rating in a research note on Wednesday, March 19th. Benchmark reiterated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Bank of America restated a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Truist Financial increased their target price on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Stock Up 3.2 %

Shares of NASDAQ NVDA opened at $121.41 on Tuesday. The firm has a market cap of $2.96 trillion, a P/E ratio of 47.78, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $153.13. The firm’s 50 day moving average price is $126.68 and its 200 day moving average price is $131.46.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.36%.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. The trade was a 2.11 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the transaction, the director now directly owns 53,208 shares in the company, valued at $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 179,109 shares of company stock worth $22,117,015. 4.23% of the stock is owned by company insiders.

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.