Phocas Financial Corp. cuts position in NVIDIA Co. (NASDAQ:NVDA)

Phocas Financial Corp. has sold its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) fell 64.3% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,365 shares of the computer hardware maker after selling 2,458 shares during the quarter. The interests of Phocas Financial Corp. in NVIDIA were worth $676,000 at the end of the most recent reporting period.

Other hedge funds have also increased or decreased their stakes in the company. LFA Lugano Financial Advisors SA bought a new stake in shares of NVIDIA in the fourth quarter worth approximately $28,000. Peoples Financial Services CORP. bought a new stake in NVIDIA stock worth approximately $30,000 during the third quarter. Your Advocates Ltd. LLP bought a new stake in NVIDIA stock worth approximately $30,000 during the third quarter. Quarry LP bought a new stake in NVIDIA stock worth approximately $34,000 during the first quarter. Finally, Compass Wealth Management LLC bought a new stake in shares of NVIDIA in the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 65.27% of the company’s shares.

NVIDIA trading down 10.0%

NASDAQ NVDA opened at $762.00 on Monday. NVIDIA Co. has a 12-month low of $262.25 and a 12-month high of $974.00. The stock has a market cap of $1.91 trillion, a price-to-earnings ratio of 63.82, a price-to-earnings ratio of 1.10 and a beta of 1.73. The stock’s fifty-day moving average price is $844.71 and its 200-day moving average price is $624.83. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA – Get Free Report) last reported its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company had revenue of $22.10 billion for the quarter, compared to analyst expectations of $20.40 billion. During the same period last year, the company posted earnings per share of $0.65. The company’s quarterly revenue rose 265.3% year over year. As a group, stock analysts predict that NVIDIA Co. will record a profit per share of 22.55 for the current financial year.

NVIDIA announces dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 27. Shareholders of record received a dividend of $0.04 per share on Wednesday, March 6. This represents a dividend of $0.16 annually and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5. NVIDIA’s payout ratio currently stands at 1.34%.

Insider activity

In related news, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the sale, the director now directly owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Mark A. Stevens sold 12,000 shares of the stock in a transaction on Monday, March 4. The stock sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the sale, the director now directly owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 10,000 shares in a transaction on Friday, February 23. The shares sold at an average price of $797.57, for a total value of $7,975,700.00. Following the sale, the director now directly owns 1,124,583 shares in the company, valued at $896,933,663.31. The explanation of this sale can be found here. Insiders have sold a total of 61,278 shares of the company, worth $52,689,898, over the last ninety days. 3.99% of the shares are currently owned by business insiders.

Changes in analyst ratings

A number of analysts have recently released reports on the company. Evercore ISI covered NVIDIA in a research report on Tuesday, April 16. They set an “outperform” rating and a $1,160.00 price target for the company. Truist Financial raised their target price on NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a research report on Monday, March 18. Cantor Fitzgerald reiterated an “overweight” rating and issued a $900.00 target price on shares of NVIDIA in a research report on Monday, March 4. Rosenblatt Securities reiterated a “buy” rating and set a $1,100.00 price target on shares of NVIDIA in a research report on Tuesday, February 20. Finally, UBS Group raised their price target on NVIDIA from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, March 22. Four research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $940.30.

Check out our latest stock report on NVDA

About NVIDIA

(Free report)

NVIDIA Corporation provides graphics, computing 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 business workstation graphics; virtual GPU or vGPU software for cloud-based visual and virtual computing; car platforms for infotainment systems; and Omniverse software for building and operating metaverse and 3D Internet applications.

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