NVIDIA Co. (NASDAQ:NVDA) Stock Position Reduced by Parker Investment Management LLC

Parker Investment Management LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 479,974 shares of the computer hardware maker's stock after selling 33,727 shares during the quarter. NVIDIA makes up 10.0% of Parker Investment Management LLC's portfolio, making the stock its 5th biggest holding. Parker Investment Management LLC's holdings in NVIDIA were worth $64,456,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. increased its stake in NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock worth $1,157,000 after acquiring an additional 71 shares during the last quarter. Smart Portfolios LLC grew its stake in NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock worth $341,000 after buying an additional 75 shares during the period. Palisade Asset Management LLC increased its position in shares of NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock worth $1,866,000 after acquiring an additional 75 shares in the last quarter. Baker Boyer National Bank raised its stake in shares of NVIDIA by 3.3% in the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock valued at $323,000 after acquiring an additional 76 shares during the period. Finally, Kwmg LLC lifted its holdings in shares of NVIDIA by 0.6% during the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock valued at $1,755,000 after acquiring an additional 77 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

NVDA has been the topic of a number of recent research reports. TD Cowen reduced their price objective on NVIDIA from $175.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Summit Insights downgraded shares of NVIDIA from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. DZ Bank raised shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Hsbc Global Res downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Finally, Citigroup reiterated a "buy" rating on shares of NVIDIA in a research note on Wednesday. Six equities research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $165.51.

NVIDIA Price Performance

NVDA stock traded down $3.16 on Friday, hitting $101.33. 290,593,259 shares of the company's stock traded hands, compared to its average volume of 312,017,771. The stock has a market cap of $2.47 trillion, a price-to-earnings ratio of 39.88, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a fifty day moving average of $116.56 and a 200-day moving average of $129.78.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares in the company, valued at $28,993,071.56. This represents a 17.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company's stock, valued at approximately $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 over the last ninety days. 4.23% of the stock is currently owned by company insiders.

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.