DnB Asset Management AS Reduces Position in NVIDIA Co. (NASDAQ:NVDA)

DnB Asset Management AS trimmed its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 13.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,952,279 shares of the computer hardware maker's stock after selling 1,333,593 shares during the quarter. NVIDIA accounts for 5.2% of DnB Asset Management AS's holdings, making the stock its 4th largest holding. DnB Asset Management AS's holdings in NVIDIA were worth $1,202,202,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. DiNuzzo Private Wealth Inc. increased its position in NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock worth $1,157,000 after purchasing an additional 71 shares during the last quarter. Palisade Asset Management LLC grew its stake in shares of NVIDIA by 0.5% in the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock valued at $1,866,000 after buying an additional 75 shares during the period. Baker Boyer National Bank increased its holdings in shares of NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after buying an additional 76 shares during the last quarter. Kwmg LLC raised its position in shares of NVIDIA by 0.6% during the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock valued at $1,755,000 after buying an additional 77 shares during the period. Finally, SC&H Financial Advisors Inc. lifted its holdings in NVIDIA by 1.6% in the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock valued at $681,000 after acquiring an additional 80 shares during the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Price Performance

Shares of NVDA opened at $108.92 on Thursday. The company has a market capitalization of $2.66 trillion, a price-to-earnings ratio of 42.87, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a fifty-two week low of $81.25 and a fifty-two week high of $195.95. The firm has a 50-day simple moving average of $111.47 and a 200-day simple moving average of $128.49. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. On average, equities research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company's stock, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 147,147 shares of company stock worth $17,133,207. Company insiders own 4.23% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on NVDA. Hsbc Global Res lowered NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. DZ Bank raised shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Mizuho dropped their price target on shares of NVIDIA from $175.00 to $168.00 and set an "outperform" rating for the company in a research report on Friday, March 14th. Morgan Stanley decreased their price objective on shares of NVIDIA from $162.00 to $160.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Finally, Barclays lowered their price objective on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $164.96.

About NVIDIA

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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