Pinebridge Investments L.P. decreased its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,150,678 shares of the computer hardware maker's stock after selling 49,363 shares during the period. NVIDIA accounts for 6.3% of Pinebridge Investments L.P.'s portfolio, making the stock its largest position. Pinebridge Investments L.P.'s holdings in NVIDIA were worth $825,975,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of NVIDIA by 0.7% during 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 buying an additional 6,665,252 shares during the period. Geode Capital Management LLC raised its position in shares of NVIDIA by 1.7% in 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 acquiring an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD boosted its stake 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 worth $55,237,367,000 after acquiring an additional 3,721,331 shares during the last quarter. Norges Bank acquired a new position in NVIDIA during the fourth quarter valued at approximately $43,515,504,000. Finally, Charles Schwab Investment Management Inc. increased its stake in NVIDIA by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 151,280,130 shares of the computer hardware maker's stock valued at $20,315,409,000 after purchasing an additional 5,211,040 shares in the last quarter. 65.27% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of brokerages have recently weighed in on NVDA. Tigress Financial reissued a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. Raymond James reiterated a "strong-buy" rating on shares of NVIDIA in a report on Wednesday, April 16th. UBS Group lowered their price target on NVIDIA from $180.00 to $175.00 and set a "buy" rating for the company in a report on Monday, May 12th. TD Cowen cut their price objective on NVIDIA from $175.00 to $140.00 and set a "buy" rating on the stock in a report on Wednesday, April 9th. Finally, Benchmark reiterated a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, NVIDIA has a consensus rating of "Moderate Buy" and an average target price of $164.84.
Read Our Latest Stock Analysis on NVDA
Insider Buying and Selling at NVIDIA
In other news, CFO Colette Kress sold 66,660 shares of the 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 transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value 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. The trade was a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock valued at $17,133,207 in the last three months. 4.23% of the stock is currently owned by company insiders.
NVIDIA Stock Performance
Shares of NVDA traded up $0.17 during mid-day trading on Monday, reaching $135.57. The company's stock had a trading volume of 192,257,358 shares, compared to its average volume of 294,331,138. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market cap of $3.32 trillion, a P/E ratio of 53.35, a PEG ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95. The business has a 50-day simple moving average of $112.33 and a two-hundred day simple moving average of $126.93.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results 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. The business had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid 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 yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is currently 1.36%.
NVIDIA Company Profile
(
Free Report)
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.
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