Thornburg Investment Management Inc. Cuts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Thornburg Investment Management Inc. cut its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 370,326 shares of the computer hardware maker’s stock after selling 6,852 shares during the quarter. Thornburg Investment Management Inc.’s holdings in NVIDIA were worth $49,731,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. FMR LLC boosted its stake in NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after buying an additional 6,665,252 shares during the period. Geode Capital Management LLC boosted its stake in NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock worth $55,237,367,000 after buying an additional 3,721,331 shares during the period. Norges Bank bought a new stake in shares of NVIDIA during the fourth quarter worth $43,515,504,000. Finally, Northern Trust Corp lifted its position in shares of NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of several research analyst reports. UBS Group reiterated a “buy” rating on shares of NVIDIA in a research report on Friday, May 23rd. Susquehanna reiterated a “positive” rating and set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Piper Sandler reiterated an “overweight” rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research report on Wednesday. Needham & Company LLC reiterated a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research report on Thursday. Finally, Benchmark reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have given a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $171.66.

View Our Latest Analysis on NVDA

Insider Transactions at NVIDIA

In other news, Director Aarti S. Shah sold 20,000 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. The trade was a 27.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11% 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 worth $17,133,207. Insiders own 4.17% of the company’s stock.

NVIDIA Price Performance

Shares of NVDA stock opened at $134.28 on Friday. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. The firm has a market capitalization of $3.28 trillion, a price-to-earnings ratio of 52.85, a PEG ratio of 1.76 and a beta of 2.11. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock’s 50-day simple moving average is $115.48 and its 200-day simple moving average is $126.52.

NVIDIA (NASDAQ:NVDA – Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same quarter in the previous year, the firm posted $0.61 EPS. NVIDIA’s revenue was up 69.2% on a year-over-year basis. As a group, equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders 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 dividend yield of 0.03%. NVIDIA’s payout ratio is 1.29%.

NVIDIA Company 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.