Peregrine Asset Advisers Inc. Has $6.73 Million Holdings in NVIDIA Corporation $NVDA

Peregrine Asset Advisers Inc. lowered its position in NVIDIA Corporation (NASDAQ:NVDA) by 35.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,132 shares of the computer hardware maker’s stock after selling 33,641 shares during the period. NVIDIA comprises about 2.5% of Peregrine Asset Advisers Inc.’s investment portfolio, making the stock its 6th biggest holding. Peregrine Asset Advisers Inc.’s holdings in NVIDIA were worth $6,734,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. FMR LLC grew its holdings in NVIDIA by 0.7% during 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 purchasing an additional 6,665,252 shares during the period. Geode Capital Management LLC grew its holdings in 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 period. Price T Rowe Associates Inc. MD grew its holdings 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 bought a new stake in NVIDIA during the fourth quarter valued at about $43,515,504,000. Finally, Northern Trust Corp grew its holdings in NVIDIA by 15.8% during 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 period. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NVDA. Arete Research raised NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. TD Cowen boosted their price objective on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, May 29th. Wedbush restated an “outperform” rating on shares of NVIDIA in a research report on Thursday, May 29th. Citigroup boosted their price objective on NVIDIA from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, July 7th. Finally, Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-two have given a buy rating and four have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $186.33.

Insider Activity

In other news, CEO Jen Hsun Huang sold 75,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $181.38, for a total transaction of $13,603,500.00. Following the transaction, the chief executive officer directly owned 72,998,225 shares in the company, valued at $13,240,418,050.50. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Colette Kress sold 27,640 shares of the business’s stock in a transaction that occurred on Monday, August 4th. The stock was sold at an average price of $178.06, for a total value of $4,921,578.40. Following the transaction, the chief financial officer owned 2,956,876 shares in the company, valued at approximately $526,501,340.56. This represents a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,837,440 shares of company stock worth $889,404,782. 4.17% of the stock is currently owned by insiders.

NVIDIA Trading Down 0.9%

NVDA stock opened at $180.45 on Monday. The company has a current ratio of 3.39, a quick ratio of 2.96 and a debt-to-equity ratio of 0.10. NVIDIA Corporation has a 12-month low of $86.62 and a 12-month high of $184.48. The stock has a market cap of $4.40 trillion, a price-to-earnings ratio of 58.21, a PEG ratio of 1.59 and a beta of 2.14. The business’s 50-day moving average is $163.96 and its 200 day moving average is $135.52.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a return on equity of 105.09% and a net margin of 51.69%. The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 earnings per share. The company’s quarterly revenue was up 69.2% on a year-over-year basis. On average, sell-side analysts anticipate that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.0%. The ex-dividend date was Wednesday, June 11th. NVIDIA’s payout ratio 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.