ProVise Management Group LLC reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 56.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,065 shares of the computer hardware maker's stock after selling 12,805 shares during the period. ProVise Management Group LLC's holdings in NVIDIA were worth $1,352,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its position in shares of NVIDIA by 2.2% during the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker's stock valued at $66,101,133,000 after purchasing an additional 11,525,969 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker's stock valued at $21,908,236,000 after buying an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. increased its position in NVIDIA by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 151,280,130 shares of the computer hardware maker's stock worth $20,315,409,000 after buying an additional 5,211,040 shares in the last quarter. Amundi boosted its holdings in NVIDIA by 12.9% in the 4th quarter. Amundi now owns 117,036,612 shares of the computer hardware maker's stock worth $16,394,224,000 after buying an additional 13,406,054 shares during the period. Finally, Fisher Asset Management LLC grew its holdings in NVIDIA by 1.7% during the 4th quarter. Fisher Asset Management LLC now owns 98,339,379 shares of the computer hardware maker's stock valued at $13,205,995,000 after buying an additional 1,618,672 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.
NVIDIA Stock Up 3.9 %
NVIDIA stock traded up $4.14 during midday trading on Friday, hitting $110.57. 198,676,718 shares of the company's stock were exchanged, compared to its average volume of 305,931,431. NVIDIA Co. has a 12 month low of $78.22 and a 12 month high of $195.95. The firm has a 50-day moving average of $113.77 and a two-hundred day moving average of $129.16. The company has a market cap of $2.70 trillion, a PE ratio of 43.69, a P/E/G ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results 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 analysts' expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA's payout ratio is presently 1.36%.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on NVDA shares. Bank of America lowered their price target on NVIDIA from $200.00 to $160.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Summit Insights downgraded shares of NVIDIA from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Susquehanna reissued a "positive" rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, 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. Six investment analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $164.96.
Get Our Latest Research Report on NVIDIA
Insider Activity
In related news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction on Monday, March 10th. The stock was 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. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,147 shares of company stock worth $17,133,207. Corporate insiders own 4.23% of the company's stock.
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.
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