Rafferty Asset Management LLC Has $1.32 Billion Holdings in NVIDIA Co. (NASDAQ:NVDA)

Rafferty Asset Management LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 15.4% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 9,800,764 shares of the computer hardware maker's stock after selling 1,790,554 shares during the quarter. NVIDIA accounts for approximately 4.7% of Rafferty Asset Management LLC's portfolio, making the stock its 3rd largest holding. Rafferty Asset Management LLC's holdings in NVIDIA were worth $1,316,145,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in NVDA. FMR LLC raised its holdings in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC grew its position in shares of NVIDIA by 1.7% in the fourth 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 in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of 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 purchased a new stake in NVIDIA during the 4th quarter worth about $43,515,504,000. Finally, Northern Trust Corp boosted its stake in NVIDIA by 15.8% in the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $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.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,660 shares of the firm'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 transaction, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the firm's stock in a transaction that occurred 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 owns 251,044 shares in the company, valued at approximately $28,993,071.56. The trade was a 17.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,147 shares of company stock worth $17,133,207. Company insiders own 4.17% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NVDA shares. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a report on Wednesday, April 30th. Morgan Stanley reiterated an "overweight" rating and issued a $170.00 target price (up from $160.00) on shares of NVIDIA in a research note on Thursday. Truist Financial boosted their price target on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday. Citigroup reiterated a "buy" rating and issued a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a research report on Thursday. Finally, Piper Sandler restated an "overweight" rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $171.66.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA traded down $4.91 during midday trading on Friday, reaching $134.28. 332,224,842 shares of the company's stock traded hands, compared to its average volume of 285,804,787. NVIDIA Co. has a one year low of $86.62 and a one year high of $195.95. The stock has a 50 day moving average of $115.20 and a 200 day moving average of $126.61. The company 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 quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. During the same quarter in the prior year, the company posted $0.61 EPS. NVIDIA's revenue was up 69.2% on a year-over-year basis. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's dividend payout ratio is currently 1.29%.

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.