NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Eastover Investment Advisors LLC

Eastover Investment Advisors LLC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,213 shares of the computer hardware maker’s stock after selling 1,554 shares during the period. NVIDIA makes up about 4.3% of Eastover Investment Advisors LLC’s investment portfolio, making the stock its 5th largest holding. Eastover Investment Advisors LLC’s holdings in NVIDIA were worth $8,802,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. DiNuzzo Private Wealth Inc. increased its position in shares of NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after acquiring an additional 71 shares in the last quarter. Baker Boyer National Bank increased its position in shares of NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after acquiring an additional 76 shares in the last quarter. SC&H Financial Advisors Inc. increased its position in shares of NVIDIA by 1.6% during the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker’s stock worth $681,000 after acquiring an additional 80 shares in the last quarter. DecisionPoint Financial LLC increased its position in shares of NVIDIA by 2.9% during the fourth quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker’s stock worth $386,000 after acquiring an additional 80 shares in the last quarter. Finally, Matthew Goff Investment Advisor LLC increased its position in shares of NVIDIA by 0.7% during the fourth quarter. Matthew Goff Investment Advisor LLC now owns 11,496 shares of the computer hardware maker’s stock worth $1,544,000 after acquiring an additional 84 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now directly owns 479,428 shares in the company, valued at $55,997,190.40. This represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA 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 owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This trade represents a 17.52% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,255,320 shares of company stock valued at $172,680,419. Company insiders own 4.17% of the company’s stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several recent research reports. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Needham & Company LLC reissued a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research report on Thursday, May 29th. Barclays reaffirmed an “overweight” rating and issued a $170.00 price objective (up from $155.00) on shares of NVIDIA in a research report on Thursday, May 29th. Mizuho upped their price objective on shares of NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a research report on Thursday, May 29th. Finally, Seaport Res Ptn raised shares of NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $171.66.

NVIDIA Stock Up 0.6%

NVDA opened at $142.63 on Tuesday. The company has a 50 day moving average of $119.10 and a 200 day moving average of $126.11. The company has a market cap of $3.48 trillion, a PE ratio of 56.13, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm’s quarterly revenue was up 69.2% on a year-over-year basis. During the same period last year, the business posted $0.61 earnings per share. On average, sell-side analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

NVIDIA Company 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.