Covenant Partners LLC Has $5.22 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Covenant Partners LLC lowered its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,850 shares of the computer hardware maker’s stock after selling 3,656 shares during the quarter. NVIDIA comprises about 1.6% of Covenant Partners LLC’s investment portfolio, making the stock its 11th biggest position. Covenant Partners LLC’s holdings in NVIDIA were worth $5,217,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Canandaigua National Trust Co of Florida boosted its position in shares of NVIDIA by 17.8% during the 4th quarter. Canandaigua National Trust Co of Florida now owns 14,200 shares of the computer hardware maker’s stock valued at $1,907,000 after acquiring an additional 2,148 shares in the last quarter. APEIRON CAPITAL Ltd grew its stake in shares of NVIDIA by 46.1% in the 4th quarter. APEIRON CAPITAL Ltd now owns 284,100 shares of the computer hardware maker’s stock valued at $38,152,000 after purchasing an additional 89,650 shares during the period. Bangor Savings Bank raised its holdings in shares of NVIDIA by 60.5% in the 4th quarter. Bangor Savings Bank now owns 14,006 shares of the computer hardware maker’s stock worth $1,881,000 after buying an additional 5,277 shares in the last quarter. Diversified Trust Co raised its holdings in shares of NVIDIA by 4.1% in the 4th quarter. Diversified Trust Co now owns 659,442 shares of the computer hardware maker’s stock worth $88,557,000 after buying an additional 26,179 shares in the last quarter. Finally, Bank & Trust Co lifted its position in shares of NVIDIA by 5.3% during the 4th quarter. Bank & Trust Co now owns 5,593 shares of the computer hardware maker’s stock worth $751,000 after buying an additional 279 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NVDA. Hsbc Global Res cut NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. KeyCorp set a $190.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Truist Financial boosted their price target on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Wedbush cut shares of NVIDIA from an “outperform” rating to a “cautious” rating in a research note on Friday. Finally, Morgan Stanley reiterated a “hold” rating on shares of NVIDIA in a research note on Friday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have assigned a buy rating and three have assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $167.53.

Insider Activity at NVIDIA

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares of the company’s stock, valued at $28,993,071.56. This trade represents a 17.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,147 shares of company stock worth $17,133,207. Insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

NASDAQ:NVDA opened at $131.29 on Monday. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $195.95. The company has a market cap of $3.21 trillion, a P/E ratio of 51.67, a P/E/G ratio of 1.76 and a beta of 2.11. 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 stock’s 50-day simple moving average is $113.89 and its 200 day simple moving average is $126.65.

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

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued 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 payout ratio is 1.36%.

About NVIDIA

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.