Norway Savings Bank Trims Stake in NVIDIA Co. (NASDAQ:NVDA)

Norway Savings Bank reduced its holdings in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 2.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,193 shares of the computer hardware maker’s stock after selling 152 shares during the period. NVIDIA comprises about 1.4% of Norway Savings Bank’s portfolio, making the stock its 19th biggest holding. Norway Savings Bank’s holdings in NVIDIA were worth $3,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in shares of NVIDIA in the fourth quarter worth approximately $3,900,874,000. Moneta Group Investment Advisors LLC boosted its position in shares of NVIDIA by 160,446.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock worth $2,862,392,000 after purchasing an additional 19,574,443 shares during the period. Morgan Stanley boosted its position in shares of NVIDIA by 20.2% in the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after purchasing an additional 4,621,002 shares during the period. Barclays PLC boosted its position in shares of NVIDIA by 55.7% in the second quarter. Barclays PLC now owns 7,661,032 shares of the computer hardware maker’s stock worth $3,240,769,000 after purchasing an additional 2,740,850 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of NVIDIA by 1.1% in the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock worth $88,598,850,000 after purchasing an additional 2,287,471 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 3.1 %

Shares of NVIDIA stock opened at $942.89 on Monday. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. NVIDIA Co. has a 1 year low of $258.50 and a 1 year high of $974.00. The firm’s 50-day moving average is $743.67 and its two-hundred day moving average is $562.64. The stock has a market cap of $2.36 trillion, a price-to-earnings ratio of 78.97, a PEG ratio of 1.36 and a beta of 1.73.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the prior year, the business earned $0.65 EPS. The firm’s quarterly revenue was up 265.3% on a year-over-year basis. As a group, research analysts expect that NVIDIA Co. will post 22.4 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th will be paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend is Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.34%.

Analysts Set New Price Targets

A number of research firms have weighed in on NVDA. Susquehanna upped their price target on shares of NVIDIA from $850.00 to $1,050.00 and gave the stock a “positive” rating in a research report on Tuesday, March 19th. Jefferies Financial Group upped their target price on shares of NVIDIA from $610.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Craig Hallum upped their target price on shares of NVIDIA from $700.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. TD Cowen upped their target price on shares of NVIDIA from $900.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday. Finally, Loop Capital started coverage on shares of NVIDIA in a research report on Friday, February 16th. They set a “buy” rating and a $1,200.00 target price for the company. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $908.68.

Get Our Latest Research Report on NVIDIA

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 12,000 shares of NVIDIA stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $853.54, for a total value of $10,242,480.00. Following the completion of the sale, the director now directly owns 1,107,583 shares in the company, valued at approximately $945,366,393.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the completion of the transaction, the director now directly owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the transaction, the director now directly owns 1,107,583 shares of the company’s stock, valued at $945,366,393.82. The disclosure for this sale can be found here. Insiders sold 104,774 shares of company stock worth $64,322,528 in the last three months. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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