Steadfast Capital Management LP lowered its position in shares of NVIDIA Co. (NASDAQ:NVDA – Free Report) by 5.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 780,050 shares of the computer hardware maker’s stock after selling 49,000 shares during the quarter. NVIDIA comprises approximately 2.1% of Steadfast Capital Management LP’s holdings, making the stock its 21st largest holding. Steadfast Capital Management LP’s holdings in NVIDIA were worth $104,753,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the company. Tacita Capital Inc acquired a new position in NVIDIA during the 4th quarter worth approximately $28,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC acquired a new position in NVIDIA during the 4th quarter worth approximately $40,000. LSV Asset Management acquired a new position in NVIDIA during the 4th quarter worth approximately $54,000. Finally, Gleason Group Inc. lifted its position in NVIDIA by 52.9% during the 4th quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker’s stock worth $58,000 after acquiring an additional 148 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.
Insider Transactions at NVIDIA
In other news, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction on 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 owns 53,208 shares of the company’s stock, valued at approximately $6,300,891.36. This represents a 27.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $360,509,924.95. The trade was a 2.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,147 shares of company stock valued at $17,133,207. 4.17% of the stock is currently owned by corporate insiders.
Wall Street Analysts Forecast Growth
NVDA has been the topic of several recent research reports. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Hsbc Global Res lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Barclays reissued an “overweight” rating and set a $170.00 price target (up from $155.00) on shares of NVIDIA in a research report on Thursday. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research report on Wednesday, March 19th. Finally, Raymond James upped their target price on NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have assigned a buy rating and three have given a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $171.66.
Get Our Latest Stock Report on NVIDIA
NVIDIA Price Performance
Shares of NVDA opened at $134.28 on Friday. The company has a market cap of $3.28 trillion, a P/E ratio of 52.85, a PEG ratio of 1.76 and a beta of 2.11. The stock has a fifty day moving average price of $115.48 and a 200 day moving average price of $126.52. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95.
NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.61 earnings per share. On average, research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.
NVIDIA Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s payout ratio is currently 1.29%.
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.
Further Reading
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