Pine Haven Investment Counsel Inc Sells 255 Shares of NVIDIA Corporation (NASDAQ:NVDA)

Pine Haven Investment Counsel Inc decreased its holdings in NVIDIA Corporation (NASDAQ:NVDA) by 2.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,643 shares of the computer hardware maker’s stock after selling 255 shares during the period. Pine Haven Investment Counsel Inc’s holdings in NVIDIA were worth $1,045,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. FMR LLC lifted its stake in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC raised its holdings in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank purchased a new stake in NVIDIA in the fourth quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp grew its position in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of several research analyst reports. DA Davidson increased their price target on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. TD Cowen increased their target price on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Bank of America boosted their price target on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Truist Financial upped their price target on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Finally, Rosenblatt Securities raised their price objective on shares of NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, thirty-five have issued a buy rating and three have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $173.05.

Insider Transactions at NVIDIA

In other news, Director Robert K. Burgess sold 50,000 shares of NVIDIA stock in a transaction on Friday, May 30th. The stock was sold at an average price of $134.82, for a total transaction of $6,741,000.00. Following the completion of the sale, the director now directly owns 201,044 shares in the company, valued at approximately $27,104,752.08. This trade represents a 19.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark A. Stevens sold 935,000 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the sale, the director now directly owns 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,469,685 shares of company stock worth $349,669,962. 4.17% of the stock is currently owned by company insiders.

NVIDIA Price Performance

NVIDIA stock opened at $145.48 on Friday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $153.13. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average price of $125.72 and a 200-day moving average price of $126.66. The firm has a market capitalization of $3.55 trillion, a PE ratio of 46.93, a price-to-earnings-growth ratio of 1.28 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. As a group, equities research analysts forecast that NVIDIA Corporation will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

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.