NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management lowered its stake in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 56.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 81,189 shares of the computer hardware maker’s stock after selling 105,377 shares during the period. NVIDIA makes up approximately 1.1% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 5th largest position. Picton Mahoney Asset Management’s holdings in NVIDIA were worth $40,207,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. LFA Lugano Financial Advisors SA purchased a new position in shares of NVIDIA in the fourth quarter valued at approximately $28,000. Criterion Capital Advisors LLC purchased a new position in NVIDIA in the 4th quarter valued at approximately $28,000. Your Advocates Ltd. LLP acquired a new position in shares of NVIDIA in the third quarter worth $30,000. Trivant Custom Portfolio Group LLC grew its stake in shares of NVIDIA by 44.1% in the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock worth $43,000 after acquiring an additional 30 shares in the last quarter. Finally, O Brien Wealth Partners LLC increased its position in shares of NVIDIA by 139.5% during the fourth quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock worth $45,000 after acquiring an additional 53 shares during the period. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVDA. Piper Sandler boosted their target price on NVIDIA from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. TD Cowen upped their target price on shares of NVIDIA from $900.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Craig Hallum lifted their price target on shares of NVIDIA from $700.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Sanford C. Bernstein increased their price objective on shares of NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Finally, KeyCorp lifted their price objective on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Monday, April 8th. Four 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 data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $966.55.

View Our Latest Stock Analysis on NVIDIA

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $913.56 on Wednesday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The company has a 50-day moving average price of $879.39 and a 200 day moving average price of $672.77. NVIDIA Co. has a 52 week low of $281.52 and a 52 week high of $974.00. The company has a market cap of $2.28 trillion, a P/E ratio of 76.51, a PEG ratio of 1.29 and a beta of 1.75.

NVIDIA (NASDAQ:NVDAGet Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same period last year, the firm earned $0.65 EPS. The company’s quarterly revenue was up 265.3% compared to the same quarter last year. Research analysts predict that NVIDIA Co. will post 22.6 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Activity

In related news, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the sale, the director now owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $853.54, for a total value of $10,242,480.00. Following the completion of the transaction, the director now directly owns 1,107,583 shares of the company’s stock, valued at approximately $945,366,393.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the sale, the director now owns 1,124,583 shares in the company, valued at $896,933,663.31. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock worth $52,689,898 in the last 90 days. 3.99% of the stock is currently owned by corporate insiders.

About NVIDIA

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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