Clearbridge Investments LLC cut its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 8.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,267,986 shares of the computer hardware maker's stock after selling 3,263,893 shares during the period. NVIDIA makes up about 3.7% of Clearbridge Investments LLC's holdings, making the stock its 2nd largest holding. Clearbridge Investments LLC owned approximately 0.14% of NVIDIA worth $4,601,848,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SOA Wealth Advisors LLC. increased its holdings in shares of NVIDIA by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock worth $14,650,000 after buying an additional 350 shares during the last quarter. Swedbank AB increased its stake in NVIDIA by 4.8% during the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker's stock worth $4,965,526,000 after acquiring an additional 1,868,358 shares during the last quarter. Principal Financial Group Inc. raised its position in NVIDIA by 3.7% in the third quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker's stock valued at $4,326,576,000 after purchasing an additional 1,285,897 shares during the period. Spinnaker Investment Group LLC lifted its stake in shares of NVIDIA by 2.7% in the 3rd quarter. Spinnaker Investment Group LLC now owns 25,274 shares of the computer hardware maker's stock valued at $3,069,000 after purchasing an additional 661 shares during the last quarter. Finally, Mount Lucas Management LP grew its holdings in shares of NVIDIA by 2.4% during the 3rd quarter. Mount Lucas Management LP now owns 6,734 shares of the computer hardware maker's stock worth $818,000 after purchasing an additional 156 shares during the period. Institutional investors and hedge funds own 65.27% of the company's stock.
NVIDIA Stock Performance
NASDAQ:NVDA traded up $2.89 during mid-day trading on Friday, reaching $114.50. 189,662,858 shares of the stock were exchanged, compared to its average volume of 300,427,940. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $195.95. The company has a 50 day simple moving average of $110.85 and a 200-day simple moving average of $128.14. The stock has a market capitalization of $2.79 trillion, a P/E ratio of 45.06, a P/E/G ratio of 1.76 and a beta of 1.96.
NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The business also recently disclosed 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 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's dividend payout ratio is presently 1.36%.
Insiders Place Their Bets
In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is owned by company insiders.
Analyst Ratings Changes
A number of research firms have commented on NVDA. Rosenblatt Securities decreased their target price on shares of NVIDIA from $220.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. KeyCorp set a $190.00 target price on NVIDIA in a research report on Wednesday, March 19th. DA Davidson lowered their price target on NVIDIA from $125.00 to $120.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. Finally, Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, NVIDIA has an average rating of "Moderate Buy" and a consensus target price of $164.96.
Get Our Latest Stock Analysis on NVIDIA
NVIDIA Company Profile
(
Free Report)
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.
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