Canada Pension Plan Investment Board Sells 2,801,068 Shares of NVIDIA Co. (NASDAQ:NVDA)

Canada Pension Plan Investment Board lessened its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 30,067,502 shares of the computer hardware maker’s stock after selling 2,801,068 shares during the quarter. NVIDIA makes up approximately 3.8% of Canada Pension Plan Investment Board’s portfolio, making the stock its largest holding. Canada Pension Plan Investment Board’s holdings in NVIDIA were worth $4,037,765,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Tacita Capital Inc acquired a new stake in shares of NVIDIA in the 4th quarter valued at $28,000. Legend Financial Advisors Inc. bought a new position in NVIDIA during the fourth quarter valued at about $34,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the fourth quarter worth about $38,000. Luken Investment Analytics LLC bought a new stake in shares of NVIDIA during the 4th quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA during the 4th quarter valued at about $46,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Benchmark restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Seaport Res Ptn upgraded shares of NVIDIA to a “strong sell” rating in a research note on Wednesday, April 30th. Bank of America boosted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Hsbc Global Res downgraded NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $164.84.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the firm’s 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 transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This represents a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 over the last 90 days. 4.23% of the stock is owned by insiders.

NVIDIA Stock Performance

NVIDIA stock opened at $135.34 on Thursday. The stock has a 50-day simple moving average of $111.24 and a 200 day simple moving average of $127.14. The stock has a market capitalization of $3.31 trillion, a price-to-earnings ratio of 53.26, a P/E/G ratio of 1.76 and a beta of 2.11. 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 12-month low of $86.62 and a 12-month high of $195.95.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $38.16 billion. On average, research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 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.