NVIDIA Co. (NASDAQ:NVDA) is Alliancebernstein L.P.'s 2nd Largest Position

Alliancebernstein L.P. reduced its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,681,812 shares of the computer hardware maker's stock after selling 2,651,366 shares during the period. NVIDIA makes up about 5.2% of Alliancebernstein L.P.'s holdings, making the stock its 2nd largest holding. Alliancebernstein L.P. owned 0.47% of NVIDIA worth $15,400,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in NVDA. Tacita Capital Inc bought a new stake in shares of NVIDIA during the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA in the 4th quarter worth approximately $34,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at $38,000. Luken Investment Analytics LLC bought a new position in NVIDIA in the fourth quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in NVIDIA during the fourth quarter valued at about $46,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 2,663 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 53,208 shares of the company's stock, valued at $6,300,891.36. This represents a 27.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

NVDA traded up $2.89 during midday trading on Friday, reaching $114.50. The company had a trading volume of 189,662,858 shares, compared to its average volume of 300,427,940. 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 1 year low of $86.62 and a 1 year high of $195.95. The company has a market cap of $2.79 trillion, a P/E ratio of 45.06, a P/E/G ratio of 1.76 and a beta of 1.96. The business has a 50-day moving average of $110.85 and a two-hundred day moving average of $128.14.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion for the quarter, compared to analysts' expectations of $38.16 billion. As a group, equities research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal 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 given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA's payout ratio is currently 1.36%.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of research reports. Rosenblatt Securities decreased their price objective on NVIDIA from $220.00 to $200.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Mizuho decreased their price target on shares of NVIDIA from $175.00 to $168.00 and set an "outperform" rating on the stock in a research note on Friday, March 14th. Raymond James reaffirmed a "strong-buy" rating on shares of NVIDIA in a research note on Wednesday, April 16th. Summit Insights cut shares of NVIDIA from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $164.96.

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.