NVIDIA Co. (NASDAQ:NVDA) Stake Cut by Lord Abbett & CO. LLC

Lord Abbett & CO. LLC reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 9,063,532 shares of the computer hardware maker’s stock after selling 169 shares during the period. NVIDIA makes up 3.9% of Lord Abbett & CO. LLC’s investment portfolio, making the stock its largest holding. Lord Abbett & CO. LLC’s holdings in NVIDIA were worth $1,217,142,000 as of its most recent SEC filing.

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

Insider Transactions at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares of the company’s stock, valued at $1,900,690. This trade represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This represents a 17.52% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 147,147 shares of company stock valued at $17,133,207. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $135.57 on Tuesday. 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 firm has a 50-day moving average of $112.73 and a two-hundred day moving average of $126.93. The stock has a market cap of $3.32 trillion, a P/E ratio of 53.35, a PEG 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.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. On average, research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently weighed in on NVDA. Bank of America lifted their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. DZ Bank raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Truist Financial lifted their target price on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a report on Thursday, February 27th. Susquehanna reaffirmed a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Piper Sandler reaffirmed an “overweight” rating on shares of NVIDIA in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $164.84.

NVIDIA 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.