Principal Financial Group Inc. Sells 365,762 Shares of NVIDIA Co. (NASDAQ:NVDA)

Principal Financial Group Inc. decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 1.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,261,512 shares of the computer hardware maker's stock after selling 365,762 shares during the quarter. NVIDIA makes up approximately 2.6% of Principal Financial Group Inc.'s holdings, making the stock its 3rd largest holding. Principal Financial Group Inc. owned about 0.14% of NVIDIA worth $4,735,268,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of NVDA. AMF Tjanstepension AB lifted its stake in shares of NVIDIA by 2.2% in the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker's stock valued at $976,348,000 after purchasing an additional 169,445 shares during the period. Wealth Group Ltd. increased its position in shares of NVIDIA by 5.0% in the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker's stock valued at $680,000 after buying an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. increased its position in shares of NVIDIA by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock valued at $14,650,000 after buying an additional 350 shares in the last quarter. Swedbank AB increased its position in shares of NVIDIA by 4.8% in the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker's stock valued at $4,965,526,000 after buying an additional 1,868,358 shares in the last quarter. Finally, McCollum Christoferson Group LLC increased its position in shares of NVIDIA by 4.5% in the 3rd quarter. McCollum Christoferson Group LLC now owns 14,900 shares of the computer hardware maker's stock valued at $1,809,000 after buying an additional 640 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Analysts Set New Price Targets

NVDA has been the subject of a number of recent analyst reports. Wedbush restated an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, February 20th. William Blair restated an "outperform" rating on shares of NVIDIA in a research report on Thursday. Summit Insights cut shares of NVIDIA from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Cantor Fitzgerald restated an "overweight" rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Wednesday. Finally, Mizuho lowered their target price on NVIDIA from $175.00 to $168.00 and set an "outperform" rating for the company in a report on Friday, March 14th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus price target of $171.51.

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Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock worth $22,117,015 over the last three months. Insiders own 4.23% of the company's stock.

NVIDIA Trading Down 0.7 %

Shares of NVDA stock opened at $117.70 on Friday. The firm has a 50 day moving average price of $126.92 and a two-hundred day moving average price of $131.02. 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 company has a market capitalization of $2.87 trillion, a PE ratio of 46.32, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $153.13.

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

NVIDIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is 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%.

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.

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