NVIDIA Co. (NASDAQ:NVDA) is Sit Investment Associates Inc.'s 3rd Largest Position

Sit Investment Associates Inc. trimmed its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 10.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 894,186 shares of the computer hardware maker's stock after selling 107,804 shares during the quarter. NVIDIA makes up 2.7% of Sit Investment Associates Inc.'s holdings, making the stock its 3rd biggest position. Sit Investment Associates Inc.'s holdings in NVIDIA were worth $120,080,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of NVDA. SOA Wealth Advisors LLC. lifted its holdings in NVIDIA by 0.3% during the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock valued at $14,650,000 after purchasing an additional 350 shares during the last quarter. Swedbank AB lifted its stake in shares of NVIDIA by 4.8% during the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker's stock valued at $4,965,526,000 after buying an additional 1,868,358 shares in the last quarter. Principal Financial Group Inc. grew its stake in NVIDIA by 3.7% in the 3rd quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker's stock valued at $4,326,576,000 after buying an additional 1,285,897 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in NVIDIA by 3.0% during the 3rd quarter. First Horizon Advisors Inc. now owns 81,217 shares of the computer hardware maker's stock valued at $9,863,000 after acquiring an additional 2,374 shares during the period. Finally, Etfidea LLC lifted its position in shares of NVIDIA by 2.4% during the third quarter. Etfidea LLC now owns 6,731 shares of the computer hardware maker's stock worth $817,000 after acquiring an additional 160 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction 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 transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares of the company's stock, valued at $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 in the last quarter. Company insiders own 4.23% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on NVDA shares. Raymond James reiterated a "strong-buy" rating on shares of NVIDIA in a research note on Wednesday, April 16th. Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. Hsbc Global Res downgraded NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Barclays decreased their price objective on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Finally, HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research note on Thursday, April 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $164.96.

NVIDIA Stock Down 0.2 %

Shares of NVIDIA stock opened at $113.54 on Wednesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $195.95. The company has a market cap of $2.77 trillion, a price-to-earnings ratio of 44.68, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. The company's 50 day moving average is $110.37 and its 200 day moving average is $127.81.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. The firm had revenue of $39.33 billion for 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%. Research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

NVIDIA Company 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.

Want to see what other hedge funds are holding NVDA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NVIDIA Co. (NASDAQ:NVDA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.