NVIDIA Co. (NASDAQ:NVDA) is Allstate Corp's 8th Largest Position

Allstate Corp grew its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 3,234.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 728,545 shares of the computer hardware maker's stock after purchasing an additional 706,694 shares during the period. NVIDIA makes up approximately 2.9% of Allstate Corp's portfolio, making the stock its 8th biggest holding. Allstate Corp's holdings in NVIDIA were worth $97,836,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NVDA. Norges Bank purchased a new stake in NVIDIA in the 4th quarter valued at approximately $43,515,504,000. Clear Street Derivatives LLC acquired a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $4,589,905,000. Proficio Capital Partners LLC boosted its stake in shares of NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after buying an additional 34,441,082 shares in the last quarter. GQG Partners LLC boosted its stake in shares of NVIDIA by 132.3% in the fourth quarter. GQG Partners LLC now owns 25,697,930 shares of the computer hardware maker's stock valued at $3,450,975,000 after buying an additional 14,636,057 shares in the last quarter. Finally, Amundi grew its holdings in NVIDIA by 12.9% during the fourth quarter. Amundi now owns 117,036,612 shares of the computer hardware maker's stock worth $16,394,224,000 after acquiring an additional 13,406,054 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

Insider Transactions at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on 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 owns 479,428 shares of the company's stock, valued at approximately $55,997,190.40. This represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last ninety days. Insiders own 4.23% of the company's stock.

Wall Street Analysts Forecast Growth

NVDA has been the subject of a number of recent analyst reports. DA Davidson reduced their target price on NVIDIA from $125.00 to $120.00 and set a "neutral" rating for the company in a report on Monday, April 14th. Truist Financial raised their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Piper Sandler reissued an "overweight" rating on shares of NVIDIA in a report on Friday, April 25th. Summit Insights cut shares of NVIDIA from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Finally, Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $164.96.

NVIDIA Stock Performance

NASDAQ NVDA opened at $111.61 on Friday. The business's 50-day moving average price is $111.09 and its 200 day moving average price is $128.31. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $83.20 and a twelve month high of $195.95. The company has a market capitalization of $2.72 trillion, a PE ratio of 43.92, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $38.16 billion. On average, research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA's dividend payout ratio is presently 1.36%.

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.

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