Clearbridge Investments LLC Sells 3,263,893 Shares of NVIDIA Co. (NASDAQ:NVDA)

Clearbridge Investments LLC decreased its stake in NVIDIA Co. (NASDAQ:NVDA) by 8.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 34,267,986 shares of the computer hardware maker’s stock after selling 3,263,893 shares during the quarter. NVIDIA accounts for about 3.7% of Clearbridge Investments LLC’s investment portfolio, making the stock its 2nd largest holding. Clearbridge Investments LLC owned 0.14% of NVIDIA worth $4,601,848,000 as of its most recent filing with the Securities & Exchange Commission.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on NVDA shares. Bank of America decreased their price objective on NVIDIA from $200.00 to $160.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. KeyCorp set a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Rosenblatt Securities dropped their price objective on shares of NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Summit Insights lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, HSBC downgraded shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research note on Thursday, April 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $164.96.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $114.50 on Friday. The firm has a market capitalization of $2.79 trillion, a PE ratio of 45.06, a PEG ratio of 1.76 and a beta of 1.96. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95. The business’s 50 day moving average is $110.85 and its 200-day moving average is $128.19.

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

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Insiders Place Their Bets

In related news, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the transaction, the director now owns 53,208 shares of the company’s stock, valued at $6,300,891.36. This represents a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 over the last quarter. Company insiders own 4.23% of the company’s stock.

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.