New York Life Investment Management LLC Reduces Holdings in NVIDIA Co. (NASDAQ:NVDA)

New York Life Investment Management LLC lowered its stake in NVIDIA Co. (NASDAQ:NVDAFree Report) by 0.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 383,276 shares of the computer hardware maker’s stock after selling 2,690 shares during the period. NVIDIA makes up approximately 1.8% of New York Life Investment Management LLC’s investment portfolio, making the stock its 8th biggest position. New York Life Investment Management LLC’s holdings in NVIDIA were worth $166,721,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Norges Bank acquired a new stake in NVIDIA in the 4th quarter valued at about $3,900,874,000. Moneta Group Investment Advisors LLC grew its stake in shares of NVIDIA by 160,446.3% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock valued at $2,862,392,000 after buying an additional 19,574,443 shares during the period. Morgan Stanley grew its stake in shares of NVIDIA by 20.2% in the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after buying an additional 4,621,002 shares during the period. Barclays PLC boosted its position in shares of NVIDIA by 55.7% during the 2nd quarter. Barclays PLC now owns 7,661,032 shares of the computer hardware maker’s stock worth $3,240,769,000 after purchasing an additional 2,740,850 shares during the period. Finally, Renaissance Technologies LLC boosted its position in shares of NVIDIA by 58,042.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,855,904 shares of the computer hardware maker’s stock worth $785,081,000 after purchasing an additional 1,852,712 shares during the period. Institutional investors own 64.79% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $721.33 on Monday. The company has a current ratio of 3.59, a quick ratio of 3.06 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $1.78 trillion, a price-to-earnings ratio of 95.16, a PEG ratio of 2.89 and a beta of 1.69. The firm’s fifty day simple moving average is $545.55 and its 200 day simple moving average is $485.68. NVIDIA Co. has a twelve month low of $204.21 and a twelve month high of $721.85.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its earnings results on Tuesday, November 21st. The computer hardware maker reported $4.02 earnings per share for the quarter, topping the consensus estimate of $3.03 by $0.99. NVIDIA had a net margin of 42.10% and a return on equity of 72.28%. The company had revenue of $18.12 billion during the quarter, compared to the consensus estimate of $16.19 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. The company’s revenue was up 205.5% on a year-over-year basis. As a group, equities research analysts expect that NVIDIA Co. will post 11.09 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 6th were issued a $0.04 dividend. The ex-dividend date was Tuesday, December 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s payout ratio is currently 2.11%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Benchmark reissued a “buy” rating and issued a $625.00 price target on shares of NVIDIA in a research report on Wednesday, November 22nd. KeyCorp raised their price objective on shares of NVIDIA from $650.00 to $740.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 16th. Mizuho lifted their target price on shares of NVIDIA from $590.00 to $625.00 and gave the company a “buy” rating in a report on Wednesday, November 22nd. Wells Fargo & Company boosted their price objective on shares of NVIDIA from $600.00 to $675.00 and gave the stock an “overweight” rating in a report on Wednesday, November 22nd. Finally, Sanford C. Bernstein boosted their price objective on shares of NVIDIA from $675.00 to $700.00 and gave the stock an “outperform” rating in a report on Wednesday, November 22nd. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $616.35.

Check Out Our Latest Research Report on NVDA

Insider Activity

In related news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $483.18, for a total transaction of $4,831,800.00. Following the completion of the sale, the director now directly owns 989,831 shares of the company’s stock, valued at approximately $478,266,542.58. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, Director Mark A. Stevens sold 10,400 shares of the business’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $481.60, for a total transaction of $5,008,640.00. Following the completion of the sale, the director now owns 979,431 shares in the company, valued at $471,693,969.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $483.18, for a total transaction of $4,831,800.00. Following the completion of the sale, the director now owns 989,831 shares of the company’s stock, valued at $478,266,542.58. The disclosure for this sale can be found here. Insiders have sold 155,216 shares of company stock worth $79,810,950 over the last 90 days. 3.99% of the stock is owned by company insiders.

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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