Assenagon Asset Management S.A. cut its stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 49.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 583,319 shares of the computer hardware maker's stock after selling 580,623 shares during the quarter. Assenagon Asset Management S.A.'s holdings in NVIDIA were worth $85,246,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in NVDA. United Bank grew its position in shares of NVIDIA by 28.9% in the first quarter. United Bank now owns 7,717 shares of the computer hardware maker's stock valued at $2,106,000 after purchasing an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of NVIDIA by 6.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker's stock valued at $1,065,457,000 after purchasing an additional 249,045 shares in the last quarter. MAS Advisors LLC grew its position in shares of NVIDIA by 42.1% in the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker's stock valued at $545,000 after purchasing an additional 583 shares in the last quarter. Navis Wealth Advisors LLC grew its position in NVIDIA by 205.3% during the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker's stock worth $791,000 after buying an additional 1,950 shares in the last quarter. Finally, Ergoteles LLC purchased a new position in NVIDIA during the first quarter worth about $929,000. 61.80% of the stock is currently owned by hedge funds and other institutional investors.
Get NVIDIA alerts:Analysts Set New Price Targets
Several research firms recently commented on NVDA. Needham & Company LLC boosted their target price on NVIDIA from $230.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, February 23rd. Oppenheimer boosted their target price on NVIDIA from $250.00 to $275.00 and gave the stock an "outperform" rating in a research report on Thursday, February 23rd. Raymond James restated a "strong-buy" rating and set a $290.00 target price on shares of NVIDIA in a research report on Thursday, March 2nd. Barclays boosted their target price on NVIDIA from $250.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, February 23rd. Finally, JPMorgan Chase & Co. boosted their target price on NVIDIA from $220.00 to $250.00 and gave the stock an "overweight" rating in a research report on Thursday, February 23rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and a consensus target price of $247.22.
Insider Buying and Selling
In related news, Director Mark L. Perry sold 20,000 shares of the company's stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $236.37, for a total value of $4,727,400.00. Following the transaction, the director now directly owns 140,000 shares of the company's stock, valued at approximately $33,091,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Mark L. Perry sold 20,000 shares of the company's stock in a transaction that occurred on Monday, February 27th. The stock was sold at an average price of $236.37, for a total value of $4,727,400.00. Following the transaction, the director now directly owns 140,000 shares of the company's stock, valued at approximately $33,091,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 6,000 shares of the company's stock in a transaction that occurred on Monday, March 13th. The shares were sold at an average price of $229.29, for a total value of $1,375,740.00. Following the completion of the transaction, the chief financial officer now directly owns 561,401 shares in the company, valued at $128,723,635.29. The disclosure for this sale can be found here. Insiders have sold 292,773 shares of company stock worth $51,181,100 in the last 90 days. Insiders own 4.04% of the company's stock.
NVIDIA Stock Up 0.7 %
NVDA stock opened at $257.25 on Monday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 2.73 and a current ratio of 3.52. The company has a market capitalization of $635.41 billion, a price-to-earnings ratio of 147.84, a price-to-earnings-growth ratio of 4.57 and a beta of 1.76. The business's 50 day moving average price is $210.84 and its two-hundred day moving average price is $167.11. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $289.46.
NVIDIA (NASDAQ:NVDA – Get Rating) last posted its quarterly earnings results on Wednesday, February 22nd. The computer hardware maker reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.81 by $0.07. The company had revenue of $6.05 billion for the quarter, compared to the consensus estimate of $6.02 billion. NVIDIA had a return on equity of 26.61% and a net margin of 16.19%. The firm's quarterly revenue was down 20.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.14 EPS. As a group, analysts forecast that NVIDIA Co. will post 3.21 earnings per share for the current fiscal year.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 29th. Investors of record on Wednesday, March 8th will be paid a $0.04 dividend. The ex-dividend date is Tuesday, March 7th. This represents a $0.16 annualized dividend and a dividend yield of 0.06%. NVIDIA's payout ratio is currently 9.20%.
About NVIDIA
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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.
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