Choate Investment Advisors Decreases Position in NVIDIA Co. (NASDAQ:NVDA)

Choate Investment Advisors reduced its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 7.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 721,061 shares of the computer hardware maker's stock after selling 56,987 shares during the period. NVIDIA accounts for approximately 2.3% of Choate Investment Advisors' holdings, making the stock its 8th biggest position. Choate Investment Advisors' holdings in NVIDIA were worth $96,792,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in 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 position in NVIDIA during the 4th quarter valued at $34,000. Vision Financial Markets LLC bought a new position in NVIDIA during the 4th quarter valued at $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA during the 4th quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC bought a new position in NVIDIA during the 4th quarter valued at $46,000. 65.27% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVDA. DA Davidson cut their price objective on NVIDIA from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Wedbush reiterated an "outperform" rating and set a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. Needham & Company LLC reiterated a "buy" rating and set a $160.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. William Blair reiterated an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. Finally, Mizuho cut their price objective on NVIDIA from $175.00 to $168.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. Six analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $165.01.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This represents a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now owns 53,208 shares in the company, valued at $6,300,891.36. The trade was a 27.32 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 over the last three months. Company insiders own 4.23% of the company's stock.

NVIDIA Stock Performance

NVIDIA stock traded up $4.73 during trading hours on Wednesday, hitting $103.62. The stock had a trading volume of 72,880,701 shares, compared to its average volume of 307,358,978. NVIDIA Co. has a fifty-two week low of $78.22 and a fifty-two week high of $195.95. The company has a market cap of $2.53 trillion, a PE ratio of 40.78, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. The company has a 50-day moving average of $115.15 and a two-hundred day moving average of $129.50. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued 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 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 research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

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.