Peregrine Asset Advisers Inc. Sells 3,585 Shares of NVIDIA Co. (NASDAQ:NVDA)

Peregrine Asset Advisers Inc. lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 24.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,176 shares of the computer hardware maker’s stock after selling 3,585 shares during the period. NVIDIA comprises 2.7% of Peregrine Asset Advisers Inc.’s portfolio, making the stock its 6th largest holding. Peregrine Asset Advisers Inc.’s holdings in NVIDIA were worth $5,534,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in NVIDIA by 1.1% in the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after acquiring an additional 2,287,471 shares in the last quarter. Northern Trust Corp increased its position in shares of NVIDIA by 3.6% in the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock worth $11,445,211,000 after purchasing an additional 910,009 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of NVIDIA by 54,019.5% in the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of NVIDIA by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,197,744 shares of the computer hardware maker’s stock worth $5,740,887,000 after purchasing an additional 77,089 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in NVIDIA by 2.0% in the third quarter. Wellington Management Group LLP now owns 10,544,759 shares of the computer hardware maker’s stock worth $4,586,865,000 after purchasing an additional 209,085 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Up 0.6 %

Shares of NVIDIA stock opened at $903.99 on Tuesday. NVIDIA Co. has a 12-month low of $281.52 and a 12-month high of $974.00. The firm has a market capitalization of $2.26 trillion, a PE ratio of 75.71, a price-to-earnings-growth ratio of 1.29 and a beta of 1.75. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The stock’s fifty day moving average is $878.36 and its 200-day moving average is $669.24.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 EPS. Equities analysts anticipate that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the sale, the director now directly owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the transaction, the director now directly owns 1,119,583 shares in the company, valued at $896,494,891.42. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock valued at $52,689,898 in the last three months. 3.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research analyst reports. Argus increased their target price on NVIDIA from $850.00 to $950.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. The Goldman Sachs Group raised their price objective on NVIDIA from $1,000.00 to $1,100.00 and gave the stock a “buy” rating in a research note on Tuesday, May 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $900.00 target price on shares of NVIDIA in a research note on Monday, March 4th. JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Finally, Raymond James boosted their price objective on shares of NVIDIA from $850.00 to $1,100.00 and gave the company a “strong-buy” rating in a research report on Thursday, April 11th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $962.05.

NVIDIA 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.