Grand Alliance Asset Management Ltd Trims Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Grand Alliance Asset Management Ltd trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 60.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 168,000 shares of the computer hardware maker’s stock after selling 262,000 shares during the period. NVIDIA comprises about 24.8% of Grand Alliance Asset Management Ltd’s investment portfolio, making the stock its 2nd largest holding. Grand Alliance Asset Management Ltd’s holdings in NVIDIA were worth $22,561,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NVDA. Norges Bank acquired a new position in NVIDIA in the 4th quarter worth $43,515,504,000. Proficio Capital Partners LLC lifted its holdings in shares of NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. Capital International Investors boosted its position in shares of NVIDIA by 34.7% during the fourth quarter. Capital International Investors now owns 62,883,868 shares of the computer hardware maker’s stock worth $8,445,182,000 after buying an additional 16,189,550 shares during the period. APG Asset Management N.V. grew its holdings in shares of NVIDIA by 493.2% during the fourth quarter. APG Asset Management N.V. now owns 18,415,785 shares of the computer hardware maker’s stock worth $2,388,272,000 after buying an additional 15,311,330 shares in the last quarter. Finally, GQG Partners LLC raised its position in NVIDIA by 132.3% in the 4th quarter. GQG Partners LLC now owns 25,697,930 shares of the computer hardware maker’s stock valued at $3,450,975,000 after buying an additional 14,636,057 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the sale, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. The trade was a 2.11% decrease in their ownership of the stock. The transaction 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 company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. The trade was a 27.32% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,147 shares of company stock worth $17,133,207. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA opened at $135.57 on Tuesday. The company has a 50 day moving average of $112.73 and a 200-day moving average of $126.93. 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 stock has a market capitalization of $3.32 trillion, a P/E ratio of 53.35, a P/E/G ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $195.95.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on NVDA. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. TD Cowen decreased their target price on shares of NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. UBS Group cut their price target on shares of NVIDIA from $180.00 to $175.00 and set a “buy” rating on the stock in a research report on Monday, May 12th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a research report on Wednesday, April 16th. Finally, Susquehanna reissued a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. One investment 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 given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $164.84.

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.