Darden Wealth Group Inc trimmed its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 4.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 198,665 shares of the computer hardware maker's stock after selling 9,749 shares during the quarter. NVIDIA makes up approximately 18.0% of Darden Wealth Group Inc's portfolio, making the stock its biggest holding. Darden Wealth Group Inc's holdings in NVIDIA were worth $26,679,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new position in NVIDIA in the fourth quarter worth about $43,515,504,000. Clear Street Derivatives LLC bought a new position in shares of NVIDIA in the 3rd quarter worth approximately $4,589,905,000. Proficio Capital Partners LLC lifted its stake in shares of NVIDIA by 14,641.2% in the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. GQG Partners LLC boosted its position in shares of NVIDIA by 132.3% during the fourth quarter. GQG Partners LLC now owns 25,697,930 shares of the computer hardware maker's stock valued at $3,450,975,000 after purchasing an additional 14,636,057 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in NVIDIA by 26.0% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 65,827,070 shares of the computer hardware maker's stock worth $8,840,117,000 after purchasing an additional 13,571,425 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.
NVIDIA Stock Performance
Shares of NVDA opened at $116.89 on Thursday. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $2.85 trillion, a PE ratio of 46.00, a PEG ratio of 1.76 and a beta of 2.11. The company's 50 day moving average price is $110.21 and its 200 day moving average price is $127.73.
NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. Research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.
NVIDIA Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors 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 yield of 0.03%. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.
Insider Buying and Selling
In other news, Director John Dabiri sold 2,663 shares of the firm'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 transaction, the director now directly owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. The trade was a 17.52 % 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. 4.23% of the stock is currently owned by company insiders.
Analysts Set New Price Targets
A number of brokerages have recently commented on NVDA. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Needham & Company LLC reissued a "buy" rating and issued a $160.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. KeyCorp set a $190.00 price objective on NVIDIA in a research report on Wednesday, March 19th. Raymond James reissued a "strong-buy" rating on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, DA Davidson dropped their price target on shares of NVIDIA from $125.00 to $120.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. One equities research 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 issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.96.
Get Our Latest Report on NVIDIA
NVIDIA Profile
(
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.
Further Reading
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