Kayne Anderson Rudnick Investment Management LLC Sells 40,381 Shares of NVIDIA Co. (NASDAQ:NVDA)

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,190,687 shares of the computer hardware maker's stock after selling 40,381 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in NVIDIA were worth $159,897,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tacita Capital Inc purchased a new stake in shares of NVIDIA in the fourth quarter worth $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA in the fourth quarter worth $34,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA in the fourth quarter worth $38,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA in the fourth quarter worth $40,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in shares of NVIDIA in the fourth quarter worth $46,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Robert K. Burgess sold 53,324 shares of the business's stock in a transaction dated 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 completion of 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the business'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 completion of 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Trading Up 0.4%

NVIDIA stock traded up $0.57 during trading hours on Friday, hitting $135.40. The company had a trading volume of 221,859,039 shares, compared to its average volume of 294,737,502. The firm has a market cap of $3.31 trillion, a P/E ratio of 53.29, 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 Co. has a 1 year low of $86.62 and a 1 year high of $195.95. The company has a 50-day moving average price of $112.33 and a two-hundred day moving average price of $126.97.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share 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 issued a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA's dividend payout ratio is currently 1.36%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Rosenblatt Securities reduced their price objective on shares of NVIDIA from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Tigress Financial reissued a "buy" rating on shares of NVIDIA in a research note on Wednesday, February 26th. Morgan Stanley cut their target price on shares of NVIDIA from $162.00 to $160.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Bank of America raised their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $164.84.

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.