Welch & Forbes LLC Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Welch & Forbes LLC trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,987,908 shares of the computer hardware maker's stock after selling 156,680 shares during the quarter. NVIDIA accounts for 6.9% of Welch & Forbes LLC's investment portfolio, making the stock its largest holding. Welch & Forbes LLC's holdings in NVIDIA were worth $535,536,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. DiNuzzo Private Wealth Inc. increased its position in NVIDIA by 0.8% during the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock worth $1,157,000 after purchasing an additional 71 shares in the last quarter. Smart Portfolios LLC increased its holdings in shares of NVIDIA by 2.7% during the 3rd 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 last quarter. Palisade Asset Management LLC lifted its stake in shares of NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock valued at $1,866,000 after purchasing an additional 75 shares in the last quarter. Baker Boyer National Bank increased its holdings in 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 purchasing an additional 76 shares in the last quarter. Finally, Kwmg LLC grew its holdings in 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 purchasing an additional 77 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NVDA has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a "buy" rating and set a $160.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a report on Wednesday, March 19th. Hsbc Global Res cut NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Truist Financial upped their price target on NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a report on Thursday, February 27th. Finally, TD Cowen lowered their price objective on shares of NVIDIA from $175.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $168.26.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 17,279 shares of the company's stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. This represents a 0.93 % 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 quarter. Corporate insiders own 4.23% of the company's stock.

NVIDIA Stock Performance

NVDA stock traded up $0.75 during midday trading on Tuesday, reaching $111.46. 44,197,914 shares of the company were exchanged, compared to its average volume of 313,106,903. The firm has a market capitalization of $2.72 trillion, a price-to-earnings ratio of 43.68, a price-to-earnings-growth 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 business has a 50-day moving average price of $118.67 and a two-hundred day moving average price of $130.33. NVIDIA Co. has a one year low of $75.61 and a one year high of $195.95.

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

NVIDIA Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's payout ratio is 1.36%.

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.