NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC decreased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 14,902,566 shares of the computer hardware maker’s stock after selling 478,504 shares during the period. NVIDIA makes up 8.8% of Fred Alger Management LLC’s holdings, making the stock its 2nd biggest holding. Fred Alger Management LLC’s holdings in NVIDIA were worth $1,809,768,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. University of Texas Texas AM Investment Management Co. lifted its holdings in NVIDIA by 897.5% during the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock worth $14,715,000 after buying an additional 107,169 shares in the last quarter. Truepoint Inc. raised its position in shares of NVIDIA by 914.1% during the second quarter. Truepoint Inc. now owns 12,990 shares of the computer hardware maker’s stock worth $1,605,000 after acquiring an additional 11,709 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after acquiring an additional 208,362 shares during the last quarter. Palisade Asset Management LLC increased its position in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the period. Finally, Blue Square Asset Management LLC raised its holdings in NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after purchasing an additional 10,136 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on NVDA shares. William Blair started coverage on shares of NVIDIA in a research report on Wednesday, September 18th. They set an “outperform” rating for the company. Raymond James upped their target price on shares of NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a research report on Thursday, November 14th. Robert W. Baird raised their price target on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. TD Cowen lifted their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Finally, Bank of America restated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.27.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 1.1 %

Shares of NVDA stock opened at $131.76 on Wednesday. NVIDIA Co. has a fifty-two week low of $54.74 and a fifty-two week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a 50 day simple moving average of $139.68 and a two-hundred day simple moving average of $128.82. The company has a market cap of $3.23 trillion, a P/E ratio of 51.85, a PEG ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the company posted $0.38 earnings per share. The business’s quarterly revenue was up 93.6% on a year-over-year basis. Research analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.57%.

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.