Steadfast Capital Management LP Lowers Position in NVIDIA Co. (NASDAQ:NVDA)

Steadfast Capital Management LP reduced its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 5.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 780,050 shares of the computer hardware maker's stock after selling 49,000 shares during the quarter. NVIDIA makes up approximately 2.1% of Steadfast Capital Management LP's holdings, making the stock its 21st largest holding. Steadfast Capital Management LP's holdings in NVIDIA were worth $104,753,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Tacita Capital Inc acquired a new position in NVIDIA in the 4th quarter worth $28,000. Vision Financial Markets LLC acquired a new stake in NVIDIA in the 4th quarter valued at about $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA in the 4th quarter valued at about $40,000. LSV Asset Management bought a new position in NVIDIA in the 4th quarter valued at about $54,000. Finally, Gleason Group Inc. increased its holdings in shares of NVIDIA by 52.9% during the fourth quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker's stock worth $58,000 after purchasing an additional 148 shares during the period. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Performance

Shares of NASDAQ NVDA traded up $3.84 during midday trading on Tuesday, hitting $141.22. The company's stock had a trading volume of 224,730,554 shares, compared to its average volume of 283,301,000. The stock has a fifty day moving average price of $116.54 and a 200 day moving average price of $126.31. NVIDIA Co. has a one year low of $86.62 and a one year high of $195.95. 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 firm has a market capitalization of $3.45 trillion, a price-to-earnings ratio of 55.58, a P/E/G ratio of 1.76 and a beta of 2.11.

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 for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business's revenue was up 69.2% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. On average, research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued 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 is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Analysts Set New Price Targets

Several analysts recently issued reports on NVDA shares. Piper Sandler reiterated an "overweight" rating and set a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Mizuho lifted their price target on shares of NVIDIA from $168.00 to $170.00 and gave the stock an "outperform" rating in a report on Thursday, May 29th. DZ Bank upgraded shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Bank of America lifted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Finally, Rosenblatt Securities lifted their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have assigned a buy rating and three have given 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 Transactions at NVIDIA

In related news, Director Robert K. Burgess sold 50,000 shares of the stock in a transaction dated Friday, May 30th. The shares were sold at an average price of $134.82, for a total value of $6,741,000.00. Following the completion of the transaction, the director now directly owns 201,044 shares in the company, valued at $27,104,752.08. This trade represents a 19.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This represents a 13.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 197,147 shares of company stock valued at $23,874,207 in the last quarter. Insiders own 4.17% of the company's stock.

NVIDIA 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.