Grandfield & Dodd LLC Sells 162 Shares of NVIDIA Co. (NASDAQ:NVDA)

Grandfield & Dodd LLC cut its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,698 shares of the computer hardware maker’s stock after selling 162 shares during the period. Grandfield & Dodd LLC’s holdings in NVIDIA were worth $841,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of NVDA. Fifth Third Wealth Advisors LLC raised its holdings in shares of NVIDIA by 68.4% during the third quarter. Fifth Third Wealth Advisors LLC now owns 13,032 shares of the computer hardware maker’s stock worth $5,669,000 after acquiring an additional 5,292 shares during the period. 1900 Wealth Management LLC acquired a new stake in shares of NVIDIA in the 3rd quarter valued at about $309,000. DAVENPORT & Co LLC lifted its holdings in shares of NVIDIA by 236.4% in the third quarter. DAVENPORT & Co LLC now owns 149,615 shares of the computer hardware maker’s stock valued at $64,920,000 after purchasing an additional 105,144 shares in the last quarter. Eastern Bank boosted its position in shares of NVIDIA by 9,297.9% during the third quarter. Eastern Bank now owns 52,910 shares of the computer hardware maker’s stock worth $23,016,000 after buying an additional 52,347 shares during the period. Finally, Kozak & Associates Inc. grew its holdings in shares of NVIDIA by 38.4% during the third quarter. Kozak & Associates Inc. now owns 23,894 shares of the computer hardware maker’s stock worth $10,935,000 after buying an additional 6,633 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NVDA has been the subject of a number of recent research reports. Benchmark reaffirmed a “buy” rating and set a $1,000.00 price target on shares of NVIDIA in a research report on Wednesday, March 20th. Oppenheimer increased their target price on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Piper Sandler Companies lifted their price target on shares of NVIDIA to $850.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Raymond James raised their price objective on NVIDIA from $850.00 to $1,100.00 and gave the company a “strong-buy” rating in a report on Thursday, April 11th. Finally, Truist Financial boosted their target price on shares of NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $940.30.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 128 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the sale, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is owned by insiders.

NVIDIA Price Performance

NVDA stock opened at $877.35 on Monday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. NVIDIA Co. has a 12 month low of $266.25 and a 12 month high of $974.00. The firm has a market cap of $2.19 trillion, a P/E ratio of 73.48, a P/E/G ratio of 1.26 and a beta of 1.73. The company’s 50-day moving average price is $854.40 and its two-hundred day moving average price is $637.76.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period last year, the firm earned $0.65 EPS. The business’s quarterly revenue was up 265.3% compared to the same quarter last year. On average, analysts anticipate that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.34%.

NVIDIA 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.