Varenne Capital Partners Has $14.48 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Varenne Capital Partners decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 29.3% during the 4th quarter, HoldingsChannel reports. The firm owned 107,820 shares of the computer hardware maker’s stock after selling 44,585 shares during the quarter. NVIDIA comprises approximately 4.3% of Varenne Capital Partners’ holdings, making the stock its 9th largest position. Varenne Capital Partners’ holdings in NVIDIA were worth $14,479,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Tacita Capital Inc acquired a new position in shares of NVIDIA during the fourth quarter worth $28,000. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA during the 4th quarter valued at $34,000. Vision Financial Markets LLC bought a new stake in NVIDIA during the 4th quarter worth $38,000. Luken Investment Analytics LLC acquired a new position in NVIDIA in the 4th quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC bought a new position in NVIDIA in the fourth quarter valued at about $46,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on NVDA. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Wednesday, April 16th. DA Davidson cut their price target on shares of NVIDIA from $125.00 to $120.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. Citigroup reissued a “buy” rating on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, Morgan Stanley cut their target price on NVIDIA from $162.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $164.96.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 shares were 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 directly owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock valued at $17,133,207 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 2.5 %

NVDA opened at $111.61 on Friday. The firm has a market capitalization of $2.72 trillion, a PE ratio of 43.92, a P/E/G ratio of 1.76 and a beta of 1.96. 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 fifty-two week low of $83.20 and a fifty-two week high of $195.95. The company’s 50-day moving average is $111.09 and its 200 day moving average is $128.31.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. As a group, research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 0.04%. NVIDIA’s payout ratio is 1.36%.

NVIDIA 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.