Investment Management Corp of Ontario Cuts Holdings in NVIDIA Co. (NASDAQ:NVDA)

Investment Management Corp of Ontario lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,148,858 shares of the computer hardware maker's stock after selling 7,538 shares during the quarter. NVIDIA comprises approximately 9.5% of Investment Management Corp of Ontario's holdings, making the stock its 2nd largest holding. Investment Management Corp of Ontario's holdings in NVIDIA were worth $288,570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of NVDA. FMR LLC grew its holdings in shares of NVIDIA by 0.7% in the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after purchasing an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC lifted its position in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD lifted its position in NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank acquired a new position in NVIDIA during the 4th quarter valued at about $43,515,504,000. Finally, Northern Trust Corp lifted its position in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after purchasing an additional 36,266,817 shares during the period. Institutional investors own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on NVDA shares. Susquehanna reaffirmed a "positive" rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Raymond James upped their price target on NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research note on Thursday. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, TD Cowen upped their price target on NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $171.66.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Aarti S. Shah sold 20,000 shares of the business's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the transaction, the director now directly owns 53,208 shares of the company's stock, valued at approximately $6,300,891.36. The trade was a 27.32% decrease in their position. 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 over the last quarter. 4.17% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

NVIDIA stock traded down $4.91 during mid-day trading on Friday, hitting $134.28. 332,224,842 shares of the company's stock traded hands, compared to its average volume of 284,499,573. The firm has a 50 day simple moving average of $115.48 and a two-hundred day simple moving average of $126.38. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. The stock has a market cap of $3.28 trillion, a price-to-earnings ratio of 52.85, a P/E/G ratio of 1.76 and a beta of 2.11. 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 announced its 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 business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company's revenue was up 69.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.61 EPS. On average, research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business 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 $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

NVIDIA Company 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.