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

Picton Mahoney Asset Management trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 30.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 662,594 shares of the computer hardware maker’s stock after selling 296,326 shares during the quarter. NVIDIA comprises approximately 2.6% of Picton Mahoney Asset Management’s portfolio, making the stock its 2nd biggest position. Picton Mahoney Asset Management’s holdings in NVIDIA were worth $88,981,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tacita Capital Inc acquired a new position in shares of NVIDIA in the 4th quarter valued at $28,000. Legend Financial Advisors Inc. purchased a new position in NVIDIA during the 4th quarter worth $34,000. Vision Financial Markets LLC acquired a new position in NVIDIA in the fourth quarter valued at $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA during the 4th quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC acquired a new position in NVIDIA in the 4th quarter valued at $46,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NVDA shares. UBS Group cut their price objective on NVIDIA from $185.00 to $180.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial upped their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Stifel Nicolaus set a $180.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Rosenblatt Securities cut their price objective on NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Piper Sandler lowered their price target on NVIDIA from $175.00 to $150.00 and set an “overweight” rating for the company in a report on Wednesday. Six research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $165.51.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is owned by corporate insiders.

NVIDIA Trading Down 3.0 %

Shares of NASDAQ:NVDA opened at $101.33 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $116.56 and its 200 day moving average price is $129.86. The company has a market cap of $2.47 trillion, a PE ratio of 39.88, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a fifty-two week low of $76.40 and a fifty-two week high of $195.95.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. Sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s payout ratio is currently 1.36%.

About NVIDIA

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.