NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Bank of Nova Scotia

Bank of Nova Scotia trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDAGet Rating) by 42.5% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,358,481 shares of the computer hardware maker’s stock after selling 1,004,998 shares during the period. Bank of Nova Scotia’s holdings in NVIDIA were worth $370,679,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new position in NVIDIA in the 4th quarter valued at $6,279,217,000. BlackRock Inc. raised its stake in NVIDIA by 2.1% in the 4th quarter. BlackRock Inc. now owns 177,839,722 shares of the computer hardware maker’s stock valued at $52,304,441,000 after purchasing an additional 3,591,440 shares during the last quarter. Brown Advisory Inc. grew its holdings in NVIDIA by 94.4% in the 1st quarter. Brown Advisory Inc. now owns 4,557,600 shares of the computer hardware maker’s stock valued at $1,244,858,000 after buying an additional 2,213,090 shares in the last quarter. Fisher Asset Management LLC grew its holdings in NVIDIA by 43.3% in the 1st quarter. Fisher Asset Management LLC now owns 7,328,372 shares of the computer hardware maker’s stock valued at $1,999,620,000 after buying an additional 2,212,941 shares in the last quarter. Finally, TD Asset Management Inc. grew its holdings in NVIDIA by 56.5% in the 4th quarter. TD Asset Management Inc. now owns 5,846,984 shares of the computer hardware maker’s stock valued at $1,719,657,000 after buying an additional 2,111,668 shares in the last quarter. 55.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 113,850 shares of NVIDIA stock in a transaction that occurred on Monday, June 13th. The stock was sold at an average price of $158.03, for a total value of $17,991,715.50. Following the sale, the director now directly owns 2,596,493 shares in the company, valued at $410,323,788.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Debora Shoquist sold 23,644 shares of NVIDIA stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $188.23, for a total transaction of $4,450,510.12. Following the completion of the transaction, the executive vice president now directly owns 186,476 shares of the company’s stock, valued at $35,100,377.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 113,850 shares of NVIDIA stock in a transaction on Monday, June 13th. The stock was sold at an average price of $158.03, for a total value of $17,991,715.50. Following the transaction, the director now directly owns 2,596,493 shares of the company’s stock, valued at $410,323,788.79. The disclosure for this sale can be found here. Insiders have sold a total of 139,694 shares of company stock worth $22,850,524 over the last three months. 4.04% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NVDA has been the subject of several analyst reports. Needham & Company LLC dropped their target price on NVIDIA to $185.00 in a report on Tuesday, July 5th. UBS Group lowered their price target on NVIDIA from $350.00 to $280.00 and set a “buy” rating for the company in a report on Monday, May 23rd. Barclays decreased their target price on NVIDIA from $295.00 to $200.00 and set an “overweight” rating on the stock in a research note on Monday, July 25th. KeyCorp decreased their target price on NVIDIA from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 12th. Finally, Piper Sandler decreased their target price on NVIDIA from $250.00 to $235.00 and set an “overweight” rating on the stock in a research note on Monday, July 11th. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $243.24.

NVIDIA Stock Performance

Shares of NVDA stock traded down $10.04 during midday trading on Tuesday, hitting $167.89. The company had a trading volume of 974,367 shares, compared to its average volume of 50,132,296. The company’s 50 day simple moving average is $168.97 and its 200 day simple moving average is $204.68. NVIDIA Co. has a 52-week low of $140.55 and a 52-week high of $346.47. The stock has a market cap of $419.73 billion, a price-to-earnings ratio of 45.95, a PEG ratio of 2.91 and a beta of 1.65. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.32 and a quick ratio of 4.75.

NVIDIA (NASDAQ:NVDAGet Rating) last announced its earnings results on Wednesday, May 25th. The computer hardware maker reported $1.18 earnings per share for the quarter, beating the consensus estimate of $1.09 by $0.09. NVIDIA had a return on equity of 43.81% and a net margin of 32.02%. The company had revenue of $8.29 billion for the quarter, compared to the consensus estimate of $8.09 billion. During the same period last year, the business posted $0.78 EPS. The company’s revenue was up 46.4% on a year-over-year basis. Research analysts anticipate that NVIDIA Co. will post 4.48 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Thursday, June 9th were paid a $0.04 dividend. The ex-dividend date was Wednesday, June 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.10%. NVIDIA’s dividend payout ratio (DPR) is presently 4.29%.

NVIDIA Profile

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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