NVIDIA Co. (NASDAQ:NVDA) Shares Sold by Picton Mahoney Asset Management

Picton Mahoney Asset Management trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 30.9% in the fourth quarter, Holdings Channel reports. The fund owned 662,594 shares of the computer hardware maker’s stock after selling 296,326 shares during the quarter. NVIDIA comprises approximately 2.6% of Picton Mahoney Asset Management’s investment portfolio, making the stock its 2nd biggest holding. Picton Mahoney Asset Management’s holdings in NVIDIA were worth $88,981,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Geode Capital Management LLC increased its position in NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after buying an additional 11,525,969 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after acquiring an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. raised its stake in NVIDIA by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 151,280,130 shares of the computer hardware maker’s stock valued at $20,315,409,000 after purchasing an additional 5,211,040 shares during the last quarter. Amundi lifted its stake in shares of NVIDIA by 12.9% in the fourth quarter. Amundi now owns 117,036,612 shares of the computer hardware maker’s stock valued at $16,394,224,000 after buying an additional 13,406,054 shares during the period. Finally, Fisher Asset Management LLC increased its position in shares of NVIDIA by 1.7% during the fourth quarter. Fisher Asset Management LLC now owns 98,339,379 shares of the computer hardware maker’s stock valued at $13,205,995,000 after purchasing an additional 1,618,672 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $160.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. HSBC cut NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price for the company. in a report on Thursday, April 3rd. TD Cowen cut their price objective on NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. DA Davidson lowered their target price 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. Finally, DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Six investment analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $165.51.

Insider Activity

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now owns 251,044 shares of the company’s stock, valued at $28,993,071.56. The trade was a 17.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of the 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 directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. The trade was a 2.11 % 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 ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NASDAQ NVDA opened at $101.33 on Friday. 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 52-week low of $76.40 and a 52-week high of $195.95. The business has a 50 day simple moving average of $116.56 and a 200 day simple moving average of $129.86. The stock has a market cap of $2.47 trillion, a price-to-earnings ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96.

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

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio is currently 1.36%.

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.