Alberta Investment Management Corp Lowers Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Alberta Investment Management Corp cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.3% in the 4th quarter, HoldingsChannel reports. The fund owned 1,125,216 shares of the computer hardware maker’s stock after selling 75,769 shares during the period. NVIDIA makes up 1.0% of Alberta Investment Management Corp’s investment portfolio, making the stock its 12th largest position. Alberta Investment Management Corp’s holdings in NVIDIA were worth $151,105,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Capital Performance Advisors LLP raised its stake in NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after purchasing an additional 9,944 shares during the period. Palisade Asset Management LLC increased its holdings in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after buying an additional 75 shares during the last quarter. SMART Wealth LLC increased its holdings in shares of NVIDIA by 289.5% during the 4th quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after buying an additional 53,747 shares during the last quarter. Blue Square Asset Management LLC raised its position in shares of NVIDIA by 26.7% in the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after buying an additional 10,136 shares during the period. Finally, Narwhal Capital Management boosted its holdings in NVIDIA by 5.1% in the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after acquiring an additional 26,373 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 179,109 shares of company stock valued at $22,117,015 over the last three months. Company insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $121.41 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 business’s fifty day moving average price is $126.68 and its two-hundred day moving average price is $131.46. The firm has a market capitalization of $2.96 trillion, a PE ratio of 47.78, a P/E/G ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 1-year low of $75.61 and a 1-year high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 114.83% and a net margin of 55.69%. On average, research analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

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

Wall Street Analyst Weigh In

Several brokerages have commented on NVDA. Morgan Stanley set a $162.00 price target on NVIDIA and gave the stock an “overweight” rating in a research note on Wednesday, March 19th. Tigress Financial reissued a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Wedbush reissued an “outperform” rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, February 20th. Finally, Rosenblatt Securities restated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Company 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.