Fred Alger Management LLC Has $2 Billion Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Fred Alger Management LLC lowered its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,874,449 shares of the computer hardware maker's stock after selling 28,117 shares during the quarter. NVIDIA makes up 9.5% of Fred Alger Management LLC's investment portfolio, making the stock its largest holding. Fred Alger Management LLC owned about 0.06% of NVIDIA worth $1,997,490,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Canandaigua National Trust Co of Florida boosted its position in shares of NVIDIA by 17.8% in the fourth quarter. Canandaigua National Trust Co of Florida now owns 14,200 shares of the computer hardware maker's stock worth $1,907,000 after buying an additional 2,148 shares during the period. APEIRON CAPITAL Ltd lifted its stake in NVIDIA by 46.1% in the 4th quarter. APEIRON CAPITAL Ltd now owns 284,100 shares of the computer hardware maker's stock worth $38,152,000 after acquiring an additional 89,650 shares in the last quarter. Bangor Savings Bank boosted its position in NVIDIA by 60.5% during the 4th quarter. Bangor Savings Bank now owns 14,006 shares of the computer hardware maker's stock worth $1,881,000 after acquiring an additional 5,277 shares during the period. Diversified Trust Co boosted its position in NVIDIA by 4.1% during the 4th quarter. Diversified Trust Co now owns 659,442 shares of the computer hardware maker's stock worth $88,557,000 after acquiring an additional 26,179 shares during the period. Finally, Bank & Trust Co grew its stake in NVIDIA by 5.3% during the 4th quarter. Bank & Trust Co now owns 5,593 shares of the computer hardware maker's stock valued at $751,000 after acquiring an additional 279 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Stock Performance

NVDA stock traded up $4.38 on Thursday, reaching $139.19. 368,832,482 shares of the company were exchanged, compared to its average volume of 286,404,452. The firm has a market capitalization of $3.40 trillion, a PE ratio of 54.78, a PEG ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95. The stock's fifty day moving average price is $115.20 and its 200 day moving average price is $126.61. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business's revenue for the quarter was up 69.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio is 1.36%.

Insider Buying and Selling at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction that occurred on 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 sale, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 2,663 shares of the company's stock in a transaction 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 transaction, the director now owns 17,279 shares of the company's stock, valued at $1,900,690. The trade was a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 in the last quarter. Corporate insiders own 4.17% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on NVDA shares. HSBC lowered shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research report on Thursday, April 3rd. Barclays reiterated an "overweight" rating and issued a $170.00 target price (up previously from $155.00) on shares of NVIDIA in a research report on Thursday. Citigroup restated a "buy" rating and set a $180.00 price target (up from $150.00) on shares of NVIDIA in a report on Thursday. DZ Bank raised shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Finally, Summit Insights raised NVIDIA from a "hold" rating to a "buy" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have given a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $171.66.

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.