Jericho Capital Asset Management L.P. Has $323.24 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Jericho Capital Asset Management L.P. reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 10.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,407,012 shares of the computer hardware maker's stock after selling 290,000 shares during the period. NVIDIA accounts for about 4.6% of Jericho Capital Asset Management L.P.'s holdings, making the stock its 8th biggest position. Jericho Capital Asset Management L.P.'s holdings in NVIDIA were worth $323,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

NVIDIA Stock Down 1.2%

Shares of NVDA stock traded down $1.54 on Friday, hitting $131.29. The company's stock had a trading volume of 198,282,939 shares, compared to its average volume of 288,927,791. 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 Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. The firm's fifty day moving average price is $113.89 and its 200-day moving average price is $126.65. The stock has a market capitalization of $3.21 trillion, a price-to-earnings ratio of 51.67, a P/E/G 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 earnings per share (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 business had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. Research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Aarti S. Shah sold 20,000 shares of the business's stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the transaction, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. The trade was a 27.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. The trade was a 0.93% 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 in the last quarter. Insiders own 4.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NVDA. TD Cowen decreased their price target on NVIDIA from $175.00 to $140.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Benchmark reiterated a "buy" rating and issued a $190.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a research note on Wednesday, March 19th. DZ Bank raised shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Finally, Barclays cut their target price on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have assigned a buy rating and three have issued a strong buy rating to the company's stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of "Moderate Buy" and an average price target of $167.53.

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.