Allspring Global Investments Holdings LLC Cuts Holdings in NVIDIA Corporation (NASDAQ:NVDA)

Allspring Global Investments Holdings LLC trimmed its position in NVIDIA Corporation (NASDAQ:NVDA - Free Report) by 20.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,834,452 shares of the computer hardware maker's stock after selling 2,054,268 shares during the period. NVIDIA makes up approximately 1.5% of Allspring Global Investments Holdings LLC's investment portfolio, making the stock its 4th largest holding. Allspring Global Investments Holdings LLC's holdings in NVIDIA were worth $862,965,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of NVDA. Tacita Capital Inc acquired a new position in NVIDIA during the fourth quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $38,000. Copia Wealth Management acquired a new position in shares of NVIDIA in the fourth quarter valued at approximately $50,000. Bruce G. Allen Investments LLC boosted its stake in shares of NVIDIA by 198.2% in the first quarter. Bruce G. Allen Investments LLC now owns 492 shares of the computer hardware maker's stock valued at $53,000 after buying an additional 327 shares during the period. Finally, LSV Asset Management bought a new stake in shares of NVIDIA in the fourth quarter valued at approximately $54,000. 65.27% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Ajay K. Puri sold 168,195 shares of NVIDIA stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $152.64, for a total value of $25,673,284.80. Following the sale, the executive vice president owned 4,018,547 shares of the company's stock, valued at approximately $613,391,014.08. The trade was a 4.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $142.80, for a total transaction of $142,800,000.00. Following the completion of the transaction, the director owned 26,671,360 shares of the company's stock, valued at $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,964,800 shares of company stock worth $734,906,003 in the last quarter. 4.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target on the stock. in a research note on Thursday, April 3rd. Loop Capital lifted their price target on NVIDIA from $175.00 to $250.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Needham & Company LLC increased their price objective on NVIDIA from $160.00 to $200.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Piper Sandler restated an "overweight" rating and issued a $180.00 price objective (up from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, thirty-three have issued a buy rating and four have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $181.22.

NVIDIA Stock Performance

Shares of NVDA opened at $172.41 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 3.39 and a quick ratio of 2.96. The stock has a 50-day moving average of $146.99 and a 200-day moving average of $129.81. The company has a market cap of $4.21 trillion, a PE ratio of 55.62, a P/E/G ratio of 1.52 and a beta of 2.13. NVIDIA Corporation has a one year low of $86.62 and a one year high of $174.25.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 51.69% and a return on equity of 105.09%. NVIDIA's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. On average, equities research analysts predict that NVIDIA Corporation will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, June 11th. This represents a $0.04 annualized dividend and a dividend yield of 0.02%. NVIDIA's dividend payout ratio is currently 1.29%.

NVIDIA Profile

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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