Vestcor Inc Lowers Stake in NVIDIA Co. (NASDAQ:NVDA)

Vestcor Inc decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 531,459 shares of the computer hardware maker’s stock after selling 46,455 shares during the quarter. NVIDIA makes up 2.4% of Vestcor Inc’s investment portfolio, making the stock its 3rd largest position. Vestcor Inc’s holdings in NVIDIA were worth $71,370,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. boosted its position in NVIDIA by 0.8% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after buying an additional 71 shares during the period. Smart Portfolios LLC raised its stake in shares of NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after acquiring an additional 75 shares during the last quarter. Palisade Asset Management LLC boosted its holdings in shares of NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the period. Baker Boyer National Bank grew its stake in shares of NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after purchasing an additional 76 shares during the last quarter. Finally, Kwmg LLC increased its holdings in NVIDIA by 0.6% during the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after purchasing an additional 77 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of recent analyst reports. Barclays lifted their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Morgan Stanley set a $162.00 price target on shares of NVIDIA and gave the company an “overweight” rating in a report on Wednesday, March 19th. Citigroup restated a “buy” rating on shares of NVIDIA in a report on Wednesday. Piper Sandler reduced their price target on shares of NVIDIA from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, DA Davidson decreased their price target on shares of NVIDIA from $125.00 to $120.00 and set a “neutral” rating for the company in a research note on Monday. Six investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $165.51.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $101.33 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm’s 50-day moving average price is $117.19 and its 200-day moving average price is $129.89. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $195.95. The company has a market cap of $2.47 trillion, a PE ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96.

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

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA’s payout ratio is 1.36%.

Insider Buying and Selling at NVIDIA

In related news, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last three months. 4.23% of the stock is currently 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.