NVIDIA Co. (NASDAQ:NVDA) Stock Position Decreased by Canal Capital Management LLC

Canal Capital Management LLC cut its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,987 shares of the computer hardware maker’s stock after selling 1,444 shares during the period. NVIDIA accounts for about 1.8% of Canal Capital Management LLC’s investment portfolio, making the stock its 13th largest position. Canal Capital Management LLC’s holdings in NVIDIA were worth $10,876,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Tacita Capital Inc acquired a new position in shares of NVIDIA during the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA during the 4th quarter valued at about $34,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA during the 4th quarter valued at about $38,000. Luken Investment Analytics LLC acquired a new position in shares of NVIDIA during the 4th quarter valued at about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the 4th quarter valued at about $46,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now directly owns 479,428 shares of the company’s stock, valued at $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,147 shares of company stock worth $17,133,207. Corporate insiders own 4.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on NVDA shares. DA Davidson lowered their price objective on NVIDIA from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. HSBC lowered NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a report on Thursday, April 3rd. Wedbush reaffirmed an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Stifel Nicolaus set a $180.00 target price on NVIDIA in a report on Wednesday, March 19th. Finally, Citigroup reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $164.84.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $135.40 on Friday. The stock has a 50-day simple moving average of $112.33 and a two-hundred day simple moving average of $126.97. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a market capitalization of $3.31 trillion, a PE ratio of 53.29, a P/E/G ratio of 1.76 and a beta of 2.11.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $38.16 billion. Analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

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.