Chase Investment Counsel Corp Cuts Position in NVIDIA Co. (NASDAQ:NVDA)

Chase Investment Counsel Corp reduced its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 8.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 106,549 shares of the computer hardware maker's stock after selling 10,390 shares during the period. NVIDIA comprises 4.6% of Chase Investment Counsel Corp's holdings, making the stock its largest position. Chase Investment Counsel Corp's holdings in NVIDIA were worth $14,308,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clear Street Derivatives LLC acquired a new stake in shares of NVIDIA in the third quarter valued at approximately $4,589,905,000. Proficio Capital Partners LLC grew its position in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after acquiring an additional 34,441,082 shares during the last quarter. Geode Capital Management LLC raised its stake in NVIDIA by 2.2% during the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker's stock worth $66,101,133,000 after acquiring an additional 11,525,969 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of NVIDIA by 3.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker's stock valued at $21,908,236,000 after purchasing an additional 6,526,200 shares in the last quarter. Finally, National Pension Service grew its holdings in shares of NVIDIA by 14.9% during the 3rd quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker's stock valued at $5,734,483,000 after purchasing an additional 6,118,674 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

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NVIDIA Price Performance

NASDAQ NVDA traded up $3.33 during trading on Monday, reaching $97.64. The company's stock had a trading volume of 605,975,624 shares, compared to its average volume of 313,976,024. NVIDIA Co. has a one year low of $75.61 and a one year high of $195.95. The stock has a market capitalization of $2.38 trillion, a PE ratio of 38.43, a P/E/G ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a fifty day moving average of $121.20 and a 200 day moving average of $131.19.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion for the quarter, compared to analysts' expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA's payout ratio is 1.36%.

Insider Activity

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares of the company's stock, valued at $28,993,071.56. This represents a 17.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,660 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NVDA. Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a report on Wednesday, February 26th. Truist Financial raised their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, February 27th. DA Davidson decreased their price target on shares of NVIDIA from $135.00 to $125.00 and set a "neutral" rating for the company in a research report on Thursday, March 20th. Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a report on Thursday. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and an average target price of $169.89.

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.