Altimeter Capital Management LP lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 0.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 7,845,769 shares of the computer hardware maker’s stock after buying an additional 49,180 shares during the quarter. NVIDIA comprises about 19.0% of Altimeter Capital Management LP’s portfolio, making the stock its 2nd largest holding. Altimeter Capital Management LP’s holdings in NVIDIA were worth $1,053,608,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. DiNuzzo Private Wealth Inc. lifted its stake in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after purchasing an additional 71 shares in the last quarter. Baker Boyer National Bank raised its holdings in shares of NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after buying an additional 76 shares during the period. Kwmg LLC raised its holdings in shares of NVIDIA by 0.6% during the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after buying an additional 77 shares during the period. SC&H Financial Advisors Inc. raised its holdings in shares of NVIDIA by 1.6% during the 4th quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker’s stock valued at $681,000 after buying an additional 80 shares during the period. Finally, DecisionPoint Financial LLC raised its holdings in shares of NVIDIA by 2.9% during the 4th quarter. DecisionPoint Financial LLC now owns 2,878 shares of the computer hardware maker’s stock valued at $386,000 after buying an additional 80 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on NVDA. DA Davidson dropped their target price on NVIDIA from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Mizuho dropped their target price on NVIDIA from $175.00 to $168.00 and set an “outperform” rating on the stock in a report on Friday, March 14th. Summit Insights downgraded NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Seaport Res Ptn upgraded NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. Finally, Benchmark reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $165.86.
Insider Activity
In other news, Director John Dabiri sold 2,663 shares of the company’s 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 sale, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction 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 of the company’s stock, valued at approximately $28,993,071.56. This represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 over the last three months. Insiders own 4.23% of the company’s stock.
NVIDIA Trading Down 1.2%
Shares of NASDAQ NVDA opened at $131.29 on Friday. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95. The company has a market cap of $3.21 trillion, a price-to-earnings ratio of 51.67, 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. The business has a fifty day simple moving average of $113.89 and a 200-day simple moving average of $126.94.
NVIDIA (NASDAQ:NVDA – Get Free Report) last announced its 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 the consensus estimate of $38.16 billion. Sell-side analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.
NVIDIA Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio is 1.36%.
NVIDIA Company 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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