NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Zacks Investment Management

Zacks Investment Management trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,843,774 shares of the computer hardware maker’s stock after selling 216,149 shares during the quarter. NVIDIA makes up 3.5% of Zacks Investment Management’s holdings, making the stock its 2nd biggest holding. Zacks Investment Management’s holdings in NVIDIA were worth $381,891,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Benchmark reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Citigroup reissued a “buy” rating on shares of NVIDIA in a research note on Wednesday, April 16th. TD Cowen decreased their target price on NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a research note on Wednesday, April 9th. Finally, Truist Financial boosted their price target on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $164.84.

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares of the company’s stock, valued at $55,997,190.40. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,147 shares of company stock worth $17,133,207. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 4.2%

Shares of NVIDIA stock opened at $135.34 on Thursday. The firm has a market cap of $3.31 trillion, a PE ratio of 53.26, a P/E/G ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $195.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a fifty day moving average price of $111.24 and a 200-day moving average price of $127.14.

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

NVIDIA Announces Dividend

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