Varenne Capital Partners Sells 44,585 Shares of NVIDIA Co. (NASDAQ:NVDA)

Varenne Capital Partners reduced its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 29.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 107,820 shares of the computer hardware maker's stock after selling 44,585 shares during the period. NVIDIA accounts for approximately 4.3% of Varenne Capital Partners' investment portfolio, making the stock its 9th largest holding. Varenne Capital Partners' holdings in NVIDIA were worth $14,479,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hickory Point Bank & Trust bought a new position in NVIDIA during the fourth quarter worth about $2,272,000. Capital Performance Advisors LLP raised its position in shares of NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock valued at $3,586,000 after acquiring an additional 9,944 shares during the period. Ethos Financial Group LLC boosted its stake in NVIDIA by 24.1% during the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker's stock worth $4,312,000 after acquiring an additional 6,241 shares during the last quarter. Metis Global Partners LLC grew its holdings in NVIDIA by 3.6% during the fourth quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker's stock valued at $196,711,000 after purchasing an additional 50,978 shares during the period. Finally, Candriam S.C.A. increased its stake in NVIDIA by 0.5% in the fourth quarter. Candriam S.C.A. now owns 7,061,058 shares of the computer hardware maker's stock valued at $948,229,000 after purchasing an additional 35,684 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. The trade was a 2.11 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction on 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. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 in the last quarter. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Trading Up 2.5 %

Shares of NASDAQ:NVDA opened at $111.61 on Friday. NVIDIA Co. has a 12-month low of $83.20 and a 12-month high of $195.95. The business has a 50 day moving average of $111.09 and a 200-day moving average of $128.31. 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 stock has a market cap of $2.72 trillion, a PE ratio of 43.92, a P/E/G ratio of 1.76 and a beta of 1.96.

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 analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $38.16 billion. As a group, equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio is 1.36%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NVDA shares. Wedbush reissued an "outperform" rating and issued a $175.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. HSBC cut NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective on the stock. in a report on Thursday, April 3rd. UBS Group reissued a "buy" rating on shares of NVIDIA in a research note on Friday, April 25th. Morgan Stanley lowered their price objective on shares of NVIDIA from $162.00 to $160.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. Finally, Benchmark reaffirmed a "buy" rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $164.96.

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.

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