Bristlecone Advisors LLC Trims Holdings in NVIDIA Co. (NASDAQ:NVDA)

Bristlecone Advisors LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.0% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 38,246 shares of the computer hardware maker’s stock after selling 2,032 shares during the period. NVIDIA makes up about 1.9% of Bristlecone Advisors LLC’s investment portfolio, making the stock its 11th largest position. Bristlecone Advisors LLC’s holdings in NVIDIA were worth $18,940,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Campbell Newman Asset Management Inc. boosted its stake in shares of NVIDIA by 0.6% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 2,991 shares of the computer hardware maker’s stock worth $1,481,000 after acquiring an additional 18 shares in the last quarter. Aprio Wealth Management LLC boosted its stake in shares of NVIDIA by 1.8% during the 4th quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock worth $523,000 after acquiring an additional 19 shares in the last quarter. Palumbo Wealth Management LLC boosted its stake in shares of NVIDIA by 0.7% during the 4th quarter. Palumbo Wealth Management LLC now owns 2,816 shares of the computer hardware maker’s stock worth $1,395,000 after acquiring an additional 19 shares in the last quarter. Corundum Group Inc. boosted its stake in shares of NVIDIA by 0.8% during the 4th quarter. Corundum Group Inc. now owns 2,380 shares of the computer hardware maker’s stock worth $1,179,000 after acquiring an additional 19 shares in the last quarter. Finally, North Star Investment Management Corp. lifted its stake in NVIDIA by 0.3% in the 4th quarter. North Star Investment Management Corp. now owns 6,994 shares of the computer hardware maker’s stock valued at $3,463,000 after buying an additional 20 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Down 2.7 %

NASDAQ NVDA opened at $881.86 on Monday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The firm has a market cap of $2.20 trillion, a PE ratio of 73.86, a P/E/G ratio of 1.27 and a beta of 1.73. NVIDIA Co. has a one year low of $262.20 and a one year high of $974.00. The firm’s fifty day moving average is $830.93 and its two-hundred day moving average is $610.79.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The company had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. NVIDIA’s quarterly revenue was up 265.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.65 earnings per share. Analysts expect that NVIDIA Co. will post 22.45 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were paid a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio is presently 1.34%.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John Dabiri sold 128 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, the insider now owns 49,815 shares in the company, valued at $45,412,350.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,278 shares of company stock worth $52,689,898. 3.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on NVDA shares. KeyCorp raised their price target on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Mizuho raised their target price on shares of NVIDIA from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Needham & Company LLC raised their target price on shares of NVIDIA from $600.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Rosenblatt Securities reissued a “buy” rating and issued a $1,100.00 target price on shares of NVIDIA in a research note on Tuesday, February 20th. Finally, Wells Fargo & Company raised their target price on shares of NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 19th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $926.30.

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.