Palestra Capital Management LLC Sells 77,225 Shares of NVIDIA Co. (NASDAQ:NVDA)

Palestra Capital Management LLC cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 22.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 261,777 shares of the computer hardware maker’s stock after selling 77,225 shares during the quarter. Palestra Capital Management LLC’s holdings in NVIDIA were worth $35,154,000 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. SOA Wealth Advisors LLC. grew its holdings in shares of NVIDIA by 0.3% in the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock valued at $14,650,000 after purchasing an additional 350 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of NVIDIA by 3.7% in the third quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker’s stock valued at $4,326,576,000 after purchasing an additional 1,285,897 shares in the last quarter. Morse Asset Management Inc grew its holdings in shares of NVIDIA by 0.7% in the third quarter. Morse Asset Management Inc now owns 202,054 shares of the computer hardware maker’s stock valued at $24,537,000 after purchasing an additional 1,374 shares in the last quarter. Tri Ri Asset Management Corp purchased a new position in shares of NVIDIA in the third quarter valued at $1,245,000. Finally, SkyView Investment Advisors LLC grew its holdings in shares of NVIDIA by 0.5% in the third quarter. SkyView Investment Advisors LLC now owns 130,903 shares of the computer hardware maker’s stock valued at $15,897,000 after purchasing an additional 634 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction dated Thursday, March 20th. The shares were 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 in the company, valued at $6,300,891.36. This trade represents a 27.32% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 over the last quarter. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVDA stock opened at $132.83 on Friday. 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 has a 50-day moving average price of $113.57 and a 200 day moving average price of $126.99. The company has a market capitalization of $3.25 trillion, a P/E ratio of 52.27, a PEG ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, equities research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NVDA shares. Summit Insights lowered shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. 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. Citigroup restated a “buy” rating on shares of NVIDIA in a research report on Wednesday, April 16th. Barclays lowered their price target on NVIDIA from $175.00 to $155.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Finally, UBS Group lowered their price target on NVIDIA from $180.00 to $175.00 and set a “buy” rating for the company in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $164.84.

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.