Tairen Capital Ltd Lowers Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Tairen Capital Ltd reduced its position in NVIDIA Co. (NASDAQ:NVDA) by 98.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 52,000 shares of the computer hardware maker’s stock after selling 2,814,614 shares during the period. NVIDIA comprises approximately 1.0% of Tairen Capital Ltd’s holdings, making the stock its 25th biggest holding. Tairen Capital Ltd’s holdings in NVIDIA were worth $6,983,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NVDA. FMR LLC grew its stake in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after buying an additional 6,665,252 shares during the period. Geode Capital Management LLC grew its stake in shares of NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after buying an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker’s stock valued at $55,237,367,000 after buying an additional 3,721,331 shares during the period. Norges Bank purchased a new stake in shares of NVIDIA during the 4th quarter valued at $43,515,504,000. Finally, Northern Trust Corp grew its stake in shares of NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after buying an additional 36,266,817 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the firm’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 sale, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35% decrease in their position. 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 quarter. Insiders own 4.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NVDA shares. HSBC cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective for the company. in a research note on Thursday, April 3rd. Morgan Stanley reissued an “overweight” rating and set a $170.00 price objective (up from $160.00) on shares of NVIDIA in a research note on Thursday. Truist Financial boosted their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday. TD Cowen boosted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday. Finally, KeyCorp set a $190.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. One 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $171.66.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $134.28 on Friday. The firm has a market cap of $3.28 trillion, a PE ratio of 52.85, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. The firm’s 50-day simple moving average is $115.48 and its 200-day simple moving average is $126.52. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $195.95.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.61 EPS. Equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.29%.

About NVIDIA

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.