Patton Fund Management Inc. Decreases Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Patton Fund Management Inc. reduced its stake in NVIDIA Corporation (NASDAQ:NVDA) by 22.7% during the first quarter, according to its most recent filing with the SEC. The fund owned 35,182 shares of the computer hardware maker’s stock after selling 10,304 shares during the quarter. Patton Fund Management Inc.’s holdings in NVIDIA were worth $3,813,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC boosted its stake in NVIDIA by 0.7% in the fourth 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 last quarter. Geode Capital Management LLC increased its stake in shares of NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the last quarter. Norges Bank bought a new stake in shares of NVIDIA in the 4th quarter worth approximately $43,515,504,000. Finally, Northern Trust Corp lifted its stake in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on NVDA shares. Piper Sandler reissued an “overweight” rating and issued a $180.00 target price (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. Wedbush reiterated an “outperform” rating on shares of NVIDIA in a research note on Thursday, May 29th. UBS Group reissued a “buy” rating on shares of NVIDIA in a report on Friday, May 23rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $170.00 price objective (up from $160.00) on shares of NVIDIA 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-four have issued a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $176.19.

Insider Transactions at NVIDIA

In other NVIDIA news, CEO Jen Hsun Huang sold 75,000 shares of NVIDIA stock in a transaction dated Monday, June 30th. The stock was sold at an average price of $157.53, for a total transaction of $11,814,750.00. Following the completion of the sale, the chief executive officer owned 75,323,225 shares of the company’s stock, valued at $11,865,667,634.25. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director A Brooke Seawell sold 51,740 shares of the company’s stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $154.62, for a total value of $8,000,038.80. Following the completion of the sale, the director directly owned 1,576,709 shares of the company’s stock, valued at approximately $243,790,745.58. This represents a 3.18% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,044,919 shares of company stock valued at $584,414,209. Insiders own 4.17% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $159.28 on Friday. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $160.98. 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 company has a market cap of $3.89 trillion, a PE ratio of 51.38, a price-to-earnings-growth ratio of 1.39 and a beta of 2.13. The stock has a 50-day moving average price of $135.41 and a 200-day moving average price of $127.64.

NVIDIA (NASDAQ:NVDA) last announced its earnings results 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). NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. The company had revenue of $44.06 billion during the quarter, compared to analysts’ expectations of $43.09 billion. During the same period in the prior year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, equities analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is currently 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.