Thrivent Financial for Lutherans Sells 407,708 Shares of NVIDIA Co. (NASDAQ:NVDA)

Thrivent Financial for Lutherans lessened its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,438,544 shares of the computer hardware maker's stock after selling 407,708 shares during the period. NVIDIA accounts for about 2.7% of Thrivent Financial for Lutherans' portfolio, making the stock its 2nd biggest holding. Thrivent Financial for Lutherans' holdings in NVIDIA were worth $1,405,082,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of NVDA. DiNuzzo Private Wealth Inc. lifted its stake in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock valued at $1,157,000 after acquiring an additional 71 shares during the last quarter. Palisade Asset Management LLC raised its holdings in shares of NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock valued at $1,866,000 after acquiring an additional 75 shares in the last quarter. Baker Boyer National Bank boosted its stake in shares of NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock valued at $323,000 after purchasing an additional 76 shares in the last quarter. Kwmg LLC increased its position in shares of NVIDIA by 0.6% during the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock valued at $1,755,000 after buying an additional 77 shares during the period. Finally, SC&H Financial Advisors Inc. raised its stake in NVIDIA by 1.6% in the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock worth $681,000 after buying an additional 80 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Activity

In related news, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now owns 53,208 shares of the company's stock, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Barclays decreased their target price on NVIDIA from $175.00 to $155.00 and set an "overweight" rating for the company in a research report on Tuesday. Summit Insights downgraded shares of NVIDIA from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Rosenblatt Securities lowered their price target on shares of NVIDIA from $220.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Morgan Stanley cut their price objective on shares of NVIDIA from $162.00 to $160.00 and set an "overweight" rating on the stock in a report on Friday. Finally, KeyCorp set a $190.00 price target on NVIDIA in a research report on Wednesday, March 19th. Six equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $164.96.

NVIDIA Stock Up 4.3 %

Shares of NASDAQ NVDA traded up $4.58 during trading hours on Friday, hitting $111.01. 250,248,639 shares of the stock were exchanged, compared to its average volume of 305,623,412. The company has a market cap of $2.71 trillion, a PE ratio of 43.69, a PEG ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 12 month low of $81.25 and a 12 month high of $195.95. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a fifty day moving average price of $113.21 and a 200-day moving average price of $129.01.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. On average, sell-side analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

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.