NVIDIA Co. (NASDAQ:NVDA) is Sitrin Capital Management LLC’s 3rd Largest Position

Sitrin Capital Management LLC lessened its holdings in NVIDIA Co. (NASDAQ:NVDA) by 41.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,593 shares of the computer hardware maker’s stock after selling 11,641 shares during the period. NVIDIA comprises about 3.9% of Sitrin Capital Management LLC’s portfolio, making the stock its 3rd largest holding. Sitrin Capital Management LLC’s holdings in NVIDIA were worth $7,019,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lineweaver Wealth Advisors LLC boosted its holdings in NVIDIA by 0.9% in the 2nd quarter. Lineweaver Wealth Advisors LLC now owns 2,432 shares of the computer hardware maker’s stock worth $1,029,000 after buying an additional 22 shares during the last quarter. BCM Advisors LLC boosted its holdings in NVIDIA by 0.8% in the 2nd quarter. BCM Advisors LLC now owns 3,023 shares of the computer hardware maker’s stock worth $1,390,000 after buying an additional 23 shares during the last quarter. Von Berge Wealth Management Group LLC boosted its holdings in NVIDIA by 2.6% in the 2nd quarter. Von Berge Wealth Management Group LLC now owns 930 shares of the computer hardware maker’s stock worth $393,000 after buying an additional 24 shares during the last quarter. Noesis Capital Mangement Corp boosted its holdings in NVIDIA by 1.8% in the 2nd quarter. Noesis Capital Mangement Corp now owns 1,412 shares of the computer hardware maker’s stock worth $597,000 after buying an additional 25 shares during the last quarter. Finally, Hutchens & Kramer Investment Management Group LLC boosted its holdings in NVIDIA by 3.1% in the 2nd quarter. Hutchens & Kramer Investment Management Group LLC now owns 852 shares of the computer hardware maker’s stock worth $360,000 after buying an additional 26 shares during the last quarter. Hedge funds and other institutional investors own 64.79% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $450.05 on Monday. The company has a current ratio of 2.79, a quick ratio of 2.37 and a debt-to-equity ratio of 0.31. NVIDIA Co. has a 12 month low of $136.97 and a 12 month high of $502.66. The company has a market cap of $1.11 trillion, a P/E ratio of 108.71, a PEG ratio of 3.38 and a beta of 1.69. The firm has a fifty day moving average price of $444.01 and a 200 day moving average price of $408.81.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The firm had revenue of $13.51 billion during the quarter, compared to analysts’ expectations of $11.19 billion. During the same period in the prior year, the company posted $0.32 earnings per share. The firm’s revenue for the quarter was up 101.5% on a year-over-year basis. Sell-side analysts predict that NVIDIA Co. will post 9.54 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, September 28th. Investors of record on Thursday, September 7th were given a dividend of $0.04 per share. The ex-dividend date was Wednesday, September 6th. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is currently 3.86%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays boosted their target price on NVIDIA from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. Argus boosted their target price on NVIDIA from $450.00 to $600.00 and gave the stock a “buy” rating in a report on Thursday, August 24th. Wolfe Research boosted their target price on NVIDIA from $570.00 to $630.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. Deutsche Bank Aktiengesellschaft boosted their target price on NVIDIA from $440.00 to $560.00 and gave the stock a “hold” rating in a report on Thursday, August 24th. Finally, JPMorgan Chase & Co. boosted their target price on NVIDIA from $500.00 to $600.00 and gave the stock an “overweight” rating in a report on Thursday, August 24th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-five have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $556.83.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 21,500 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $468.08, for a total value of $10,063,720.00. Following the transaction, the director now owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Mark A. Stevens sold 21,500 shares of NVIDIA stock in a transaction on Monday, August 28th. The shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the sale, the director now owns 1,030,786 shares of the company’s stock, valued at approximately $482,490,310.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $454.01, for a total transaction of $13,478,648.88. Following the sale, the chief executive officer now directly owns 7,918,875 shares in the company, valued at approximately $3,595,248,438.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,232 shares of company stock worth $67,606,089. 3.99% of the stock is owned by insiders.

About NVIDIA

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.