NVIDIA Co. (NASDAQ:NVDA) is US Asset Management LLC’s 2nd Largest Position

US Asset Management LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.2% during the fourth quarter, Holdings Channel reports. The fund owned 61,954 shares of the computer hardware maker’s stock after selling 2,031 shares during the quarter. NVIDIA accounts for 7.5% of US Asset Management LLC’s investment portfolio, making the stock its 2nd largest holding. US Asset Management LLC’s holdings in NVIDIA were worth $8,320,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. FMR LLC boosted its stake in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after purchasing an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the last quarter. Norges Bank acquired a new position in NVIDIA in the fourth quarter worth about $43,515,504,000. Finally, Northern Trust Corp increased its holdings in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $137.38 on Tuesday. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95. The firm has a market capitalization of $3.36 trillion, a PE ratio of 54.07, a P/E/G ratio of 1.76 and a beta of 2.11. The company’s 50 day simple moving average is $115.95 and its 200 day simple moving average is $126.21. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. During the same quarter last year, the business posted $0.61 earnings per share. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. As a group, equities research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Bank of America upped their price objective on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, May 14th. Morgan Stanley reiterated an “overweight” rating and issued a $170.00 price target (up from $160.00) on shares of NVIDIA in a report on Thursday. Susquehanna restated a “positive” rating and set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Piper Sandler reaffirmed an “overweight” rating and issued a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a report on Wednesday, May 28th. Finally, Citigroup reissued a “buy” rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $171.66.

Insider Buying and Selling at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now directly owns 479,428 shares in the company, valued at approximately $55,997,190.40. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of the company’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the transaction, the director now directly owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 147,147 shares of company stock valued at $17,133,207. 4.17% of the stock is owned by insiders.

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.