Absoluto Partners Gestao de Recursos Ltda Decreases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Absoluto Partners Gestao de Recursos Ltda trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 5.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,751 shares of the computer hardware maker’s stock after selling 904 shares during the quarter. NVIDIA accounts for approximately 1.8% of Absoluto Partners Gestao de Recursos Ltda’s holdings, making the stock its 14th biggest holding. Absoluto Partners Gestao de Recursos Ltda’s holdings in NVIDIA were worth $1,981,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NVDA. Norges Bank bought a new stake in NVIDIA in the fourth quarter valued at $43,515,504,000. Northern Trust Corp boosted its holdings in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in 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 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. Finally, APG Asset Management N.V. boosted its holdings in 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. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NASDAQ NVDA opened at $131.29 on Friday. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $195.95. The firm has a market capitalization of $3.21 trillion, a P/E ratio of 51.67, a PEG ratio of 1.76 and a beta of 2.11. 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 has a 50-day moving average price of $113.89 and a 200-day moving average price of $126.94.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion during 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 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. Shareholders of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.36%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NVDA. Piper Sandler restated an “overweight” rating on shares of NVIDIA in a report on Friday, April 25th. Hsbc Global Res cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a report on Thursday, April 3rd. Rosenblatt Securities dropped their target price on shares of NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. William Blair restated an “outperform” rating on shares of NVIDIA in a report on Thursday, March 20th. Finally, TD Cowen dropped their target price on shares of NVIDIA from $175.00 to $140.00 and set a “buy” rating on the stock in a report on Wednesday, April 9th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $165.86.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This represents a 2.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the transaction, the director now owns 251,044 shares of the company’s stock, valued at $28,993,071.56. The trade was a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 in the last three months. 4.23% of the stock is owned by company insiders.

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.