Bowen Hanes & Co. Inc. Decreases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Bowen Hanes & Co. Inc. lessened its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,003,935 shares of the computer hardware maker's stock after selling 59,480 shares during the quarter. NVIDIA makes up approximately 3.6% of Bowen Hanes & Co. Inc.'s investment portfolio, making the stock its largest position. Bowen Hanes & Co. Inc.'s holdings in NVIDIA were worth $134,818,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NVDA. Tacita Capital Inc bought a new position in NVIDIA during the 4th quarter valued at $28,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA in the fourth quarter worth about $34,000. Vision Financial Markets LLC bought a new position in shares of NVIDIA during the 4th quarter worth $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA in the 4th quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the 4th quarter worth about $46,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded down $3.16 during trading on Friday, reaching $101.33. 290,593,259 shares of the company's stock traded hands, compared to its average volume of 312,017,771. 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 company has a 50 day moving average of $117.19 and a 200-day moving average of $129.89. The stock has a market capitalization of $2.47 trillion, a P/E ratio of 39.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, equities analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's payout ratio is 1.36%.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction on 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 $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares of the company's stock, valued at $1,900,690. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last 90 days. 4.23% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Cantor Fitzgerald restated an "overweight" rating and set a $200.00 target price on shares of NVIDIA in a research report on Wednesday. TD Cowen cut their price target on shares of NVIDIA from $175.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Stifel Nicolaus set a $180.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Benchmark reissued a "buy" rating and set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, HSBC cut NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a research report on Thursday, April 3rd. Six equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $165.51.

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.