Allspring Global Investments Holdings LLC Sells 50,985 Shares of NVIDIA Co. (NASDAQ:NVDA)

Allspring Global Investments Holdings LLC decreased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,083,270 shares of the computer hardware maker’s stock after selling 50,985 shares during the period. NVIDIA comprises 0.9% of Allspring Global Investments Holdings LLC’s holdings, making the stock its 10th largest holding. Allspring Global Investments Holdings LLC’s holdings in NVIDIA were worth $536,457,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in NVIDIA in the fourth quarter valued at approximately $3,900,874,000. Moneta Group Investment Advisors LLC boosted its position in NVIDIA by 160,446.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after buying an additional 19,574,443 shares in the last quarter. International Assets Investment Management LLC boosted its position in NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after buying an additional 16,835,703 shares in the last quarter. Morgan Stanley boosted its position in NVIDIA by 20.2% in the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after buying an additional 4,621,002 shares in the last quarter. Finally, Barclays PLC boosted its position in NVIDIA by 55.7% in the second quarter. Barclays PLC now owns 7,661,032 shares of the computer hardware maker’s stock valued at $3,240,769,000 after buying an additional 2,740,850 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Activity

In other news, Director Mark A. Stevens sold 5,000 shares of NVIDIA stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the completion of the transaction, the director now directly owns 1,119,583 shares in the company, valued at $896,494,891.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the transaction, the director now directly owns 1,119,583 shares in the company, valued at $896,494,891.42. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 12,000 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the transaction, the director now owns 1,107,583 shares in the company, valued at $945,366,393.82. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock worth $52,689,898 over the last three months. 3.99% of the stock is currently owned by insiders.

NVIDIA Stock Up 1.6 %

Shares of NASDAQ NVDA opened at $874.15 on Wednesday. The stock has a market capitalization of $2.19 trillion, a P/E ratio of 73.21, a P/E/G ratio of 1.27 and a beta of 1.73. The company has a 50-day moving average price of $838.10 and a 200-day moving average price of $616.90. NVIDIA Co. has a 1 year low of $262.25 and a 1 year high of $974.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business’s revenue was up 265.3% on a year-over-year basis. During the same period last year, the company earned $0.65 earnings per share. On average, equities research analysts forecast that NVIDIA Co. will post 22.45 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio is currently 1.34%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NVDA shares. DA Davidson raised their target price on shares of NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft raised their price target on shares of NVIDIA from $720.00 to $850.00 and gave the company a “hold” rating in a research note on Wednesday, March 20th. JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $650.00 to $850.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. KeyCorp raised their price target on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Finally, Oppenheimer raised their price target on shares of NVIDIA from $850.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $940.30.

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.