Canada Pension Plan Investment Board Trims Holdings in NVIDIA Co. (NVDA)

Canada Pension Plan Investment Board cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 17.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,420,006 shares of the computer hardware maker’s stock after selling 290,789 shares during the period. NVIDIA makes up approximately 0.7% of Canada Pension Plan Investment Board’s holdings, making the stock its 29th biggest position. Canada Pension Plan Investment Board owned 0.23% of NVIDIA worth $399,050,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Winslow Capital Management LLC boosted its holdings in NVIDIA by 15.0% in the 3rd quarter. Winslow Capital Management LLC now owns 1,603,804 shares of the computer hardware maker’s stock valued at $450,701,000 after purchasing an additional 209,148 shares during the period. Trexquant Investment LP bought a new stake in NVIDIA in the 3rd quarter valued at $6,244,000. Baldwin Investment Management LLC boosted its holdings in NVIDIA by 68.0% in the 3rd quarter. Baldwin Investment Management LLC now owns 3,780 shares of the computer hardware maker’s stock valued at $1,062,000 after purchasing an additional 1,530 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in NVIDIA by 53.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 270,377 shares of the computer hardware maker’s stock valued at $75,852,000 after purchasing an additional 93,741 shares during the period. Finally, Bank of Hawaii boosted its holdings in NVIDIA by 15.8% in the 3rd quarter. Bank of Hawaii now owns 4,555 shares of the computer hardware maker’s stock valued at $1,280,000 after purchasing an additional 620 shares during the period. 66.12% of the stock is owned by hedge funds and other institutional investors.

Shares of NVIDIA stock opened at $144.71 on Friday. The stock has a market cap of $90.94 billion, a P/E ratio of 30.99, a PEG ratio of 2.17 and a beta of 2.01. The company has a quick ratio of 6.20, a current ratio of 7.08 and a debt-to-equity ratio of 0.21. NVIDIA Co. has a 12-month low of $133.31 and a 12-month high of $292.76.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Thursday, November 15th. The computer hardware maker reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($0.06). The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.24 billion. NVIDIA had a return on equity of 51.60% and a net margin of 37.78%. As a group, equities research analysts forecast that NVIDIA Co. will post 6.45 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 21st. Investors of record on Friday, November 30th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, November 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 0.44%. This is a boost from NVIDIA’s previous quarterly dividend of $0.15. NVIDIA’s dividend payout ratio (DPR) is 12.85%.

A number of brokerages have recently issued reports on NVDA. Zacks Investment Research cut shares of NVIDIA from a “hold” rating to a “strong sell” rating in a research note on Wednesday. BidaskClub cut shares of NVIDIA from a “hold” rating to a “sell” rating in a research note on Wednesday. BNP Paribas cut shares of NVIDIA from a “neutral” rating to an “underperform” rating in a research note on Tuesday. Daiwa Capital Markets restated a “buy” rating on shares of NVIDIA in a research note on Monday. Finally, Jefferies Financial Group dropped their price objective on shares of NVIDIA from $320.00 to $246.00 and set a “buy” rating for the company in a research note on Friday, November 16th. Four investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twenty-five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $261.28.

In other NVIDIA news, CFO Colette Kress sold 11,576 shares of the firm’s stock in a transaction dated Thursday, September 20th. The shares were sold at an average price of $266.31, for a total value of $3,082,804.56. Following the completion of the sale, the chief financial officer now owns 297,482 shares in the company, valued at approximately $79,222,431.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Byron sold 11,257 shares of the firm’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $263.94, for a total transaction of $2,971,172.58. Following the completion of the sale, the insider now owns 81,414 shares of the company’s stock, valued at approximately $21,488,411.16. The disclosure for this sale can be found here. Insiders have sold a total of 113,707 shares of company stock valued at $32,347,973 in the last quarter. 4.70% of the stock is currently owned by corporate insiders.

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About NVIDIA

NVIDIA Corporation operates as a visual computing company worldwide. It operates through two segments, GPU and Tegra Processor. The GPU segment offers processors, which include GeForce for PC gaming and mainstream PCs; GeForce NOW for cloud-based game-streaming service; Quadro for design professionals working in computer-aided design, video editing, special effects, and other creative applications; Tesla for AI utilizing deep learning, accelerated computing, and general purpose computing; GRID provides power of NVIDIA graphics through the cloud and datacenters; DGX for AI scientists, researchers, and developers; and cryptocurrency-specific graphics processing units.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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