NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Fred Alger Management LLC

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

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Norges Bank acquired a new position in NVIDIA during the fourth quarter worth $43,515,504,000. Northern Trust Corp boosted its stake in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. Proficio Capital Partners LLC boosted its stake in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after buying an additional 34,441,082 shares during the last quarter. Capital International Investors lifted its stake in shares of NVIDIA by 34.7% in the 4th quarter. Capital International Investors now owns 62,883,868 shares of the computer hardware maker's stock valued at $8,445,182,000 after purchasing an additional 16,189,550 shares during the last quarter. Finally, APG Asset Management N.V. lifted its stake in shares of NVIDIA by 493.2% in the 4th quarter. APG Asset Management N.V. now owns 18,415,785 shares of the computer hardware maker's stock valued at $2,388,272,000 after purchasing an additional 15,311,330 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction dated Friday, March 21st. The stock was 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 directly owns 479,428 shares of the company's stock, valued at $55,997,190.40. This represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,147 shares of company stock worth $17,133,207. 4.17% of the stock is currently owned by insiders.

NVIDIA Stock Up 3.2%

NASDAQ NVDA traded up $4.21 during trading hours on Tuesday, hitting $135.50. 191,793,409 shares of the company were exchanged, compared to its average volume of 288,540,761. The company has a 50 day moving average of $114.17 and a two-hundred day moving average of $126.54. 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 52-week low of $86.62 and a 52-week high of $195.95. The firm has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.33, a PEG ratio of 1.76 and a beta of 2.11.

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

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 0.03%. NVIDIA's payout ratio is currently 1.36%.

Analysts Set New Price Targets

NVDA has been the topic of several recent analyst reports. Truist Financial upped their price target on NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Wedbush lowered NVIDIA from an "outperform" rating to a "cautious" rating in a research note on Friday. Seaport Res Ptn raised NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Piper Sandler reaffirmed an "overweight" rating on shares of NVIDIA in a research note on Friday, April 25th. Finally, Tigress Financial reaffirmed a "buy" rating on shares of NVIDIA in a research note on Wednesday, February 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have assigned a buy rating and three have given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $167.53.

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.