Grand Alliance Asset Management Ltd Sells 262,000 Shares of NVIDIA Co. (NASDAQ:NVDA)

Grand Alliance Asset Management Ltd lessened its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 60.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 168,000 shares of the computer hardware maker's stock after selling 262,000 shares during the period. NVIDIA accounts for approximately 24.8% of Grand Alliance Asset Management Ltd's investment portfolio, making the stock its 2nd biggest position. Grand Alliance Asset Management Ltd's holdings in NVIDIA were worth $22,561,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Tacita Capital Inc acquired a new position in shares of NVIDIA during the 4th quarter worth about $28,000. Legend Financial Advisors Inc. acquired a new stake in NVIDIA in the 4th quarter valued at about $34,000. Vision Financial Markets LLC acquired a new stake in NVIDIA in the 4th quarter valued at about $38,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA in the 4th quarter valued at about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the 4th quarter valued at about $46,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on NVDA shares. KeyCorp set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Wedbush downgraded shares of NVIDIA from an "outperform" rating to a "cautious" rating in a report on Friday. DA Davidson cut their price objective on shares of NVIDIA from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Monday, April 14th. William Blair reiterated an "outperform" rating on shares of NVIDIA in a report on Thursday, March 20th. Finally, Summit Insights downgraded shares of NVIDIA from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $164.84.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. This trade represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock valued at $17,133,207 in the last 90 days. Company insiders own 4.23% of the company's stock.

NVIDIA Stock Down 1.2%

NVDA stock traded down $1.54 during midday trading on Friday, hitting $131.29. The company's stock had a trading volume of 198,282,939 shares, compared to its average volume of 289,485,184. 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 capitalization of $3.21 trillion, a P/E ratio of 51.67, a PEG ratio of 1.76 and a beta of 2.11. The firm has a 50-day simple moving average of $113.89 and a 200-day simple moving average of $126.94.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. As a group, equities analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.36%.

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.