Envestnet Asset Management Inc. trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 0.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,508,958 shares of the computer hardware maker's stock after selling 63,375 shares during the period. NVIDIA comprises 0.9% of Envestnet Asset Management Inc.'s investment portfolio, making the stock its 17th largest position. Envestnet Asset Management Inc. owned 0.08% of NVIDIA worth $2,754,148,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. SOA Wealth Advisors LLC. lifted its position in shares of NVIDIA by 0.3% during the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock worth $14,650,000 after purchasing an additional 350 shares in the last quarter. Swedbank AB increased its stake in NVIDIA by 4.8% during the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker's stock worth $4,965,526,000 after buying an additional 1,868,358 shares during the period. Principal Financial Group Inc. lifted its holdings 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 worth $4,326,576,000 after buying an additional 1,285,897 shares in the last quarter. First Horizon Advisors Inc. boosted its position in NVIDIA by 3.0% in 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 buying an additional 2,374 shares during the last quarter. Finally, Etfidea LLC grew its stake 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 valued at $817,000 after acquiring an additional 160 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.
NVIDIA Trading Down 0.2 %
NASDAQ NVDA opened at $113.54 on Wednesday. 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 1-year low of $86.62 and a 1-year high of $195.95. The firm's fifty day simple moving average is $110.37 and its 200-day simple moving average is $127.81. The company has a market capitalization of $2.77 trillion, a PE ratio of 44.68, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results 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. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio is 1.36%.
Insider Activity
In other news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now owns 251,044 shares of the company's stock, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the firm's 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is owned by corporate insiders.
Analysts Set New Price Targets
A number of brokerages have weighed in on NVDA. Susquehanna restated a "positive" rating and set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Benchmark reissued a "buy" rating and set a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. UBS Group reaffirmed a "buy" rating on shares of NVIDIA in a report on Friday, April 25th. William Blair reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $164.96.
Check Out Our Latest Stock Analysis on NVDA
About NVIDIA
(
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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