Artemis Investment Management LLP Sells 271,144 Shares of NVIDIA Co. (NASDAQ:NVDA)

Artemis Investment Management LLP cut its stake in NVIDIA Co. (NASDAQ:NVDA) by 44.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 332,856 shares of the computer hardware maker’s stock after selling 271,144 shares during the quarter. NVIDIA comprises approximately 2.3% of Artemis Investment Management LLP’s investment portfolio, making the stock its 7th biggest position. Artemis Investment Management LLP’s holdings in NVIDIA were worth $160,237,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fort Washington Investment Advisors Inc. OH increased its holdings in shares of NVIDIA by 54.0% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 3,939 shares of the computer hardware maker’s stock worth $1,951,000 after buying an additional 1,382 shares during the last quarter. Armstrong Advisory Group Inc. lifted its holdings in NVIDIA by 56.9% in the fourth quarter. Armstrong Advisory Group Inc. now owns 1,497 shares of the computer hardware maker’s stock valued at $741,000 after acquiring an additional 543 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management grew its position in NVIDIA by 1.0% in the fourth quarter. B & T Capital Management DBA Alpha Capital Management now owns 4,633 shares of the computer hardware maker’s stock worth $2,294,000 after acquiring an additional 47 shares during the period. Sendero Wealth Management LLC increased its stake in NVIDIA by 2.6% during the fourth quarter. Sendero Wealth Management LLC now owns 17,068 shares of the computer hardware maker’s stock worth $8,452,000 after acquiring an additional 427 shares during the last quarter. Finally, Invera Wealth Advisors LLC purchased a new stake in NVIDIA in the fourth quarter valued at $3,593,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVDA. UBS Group increased their price target on NVIDIA from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. HSBC increased their target price on shares of NVIDIA from $880.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Morgan Stanley lifted their price target on shares of NVIDIA from $750.00 to $795.00 and gave the company an “overweight” rating in a research report on Thursday, February 22nd. Susquehanna upped their price objective on shares of NVIDIA from $850.00 to $1,050.00 and gave the stock a “positive” rating in a report on Tuesday, March 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $900.00 target price on shares of NVIDIA in a report on Monday, March 4th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $908.68.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Debora Shoquist sold 5,676 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was sold at an average price of $500.00, for a total transaction of $2,838,000.00. Following the completion of the sale, the executive vice president now directly owns 48,360 shares of the company’s stock, valued at approximately $24,180,000. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director John Dabiri sold 128 shares of NVIDIA stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the sale, the director now owns 2,055 shares of the company’s stock, valued at $1,931,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Debora Shoquist sold 5,676 shares of NVIDIA stock in a transaction that occurred on Monday, January 8th. The shares were sold at an average price of $500.00, for a total value of $2,838,000.00. Following the completion of the sale, the executive vice president now owns 48,360 shares in the company, valued at $24,180,000. The disclosure for this sale can be found here. Over the last quarter, insiders sold 105,352 shares of company stock worth $64,853,077. Company insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA stock opened at $902.50 on Thursday. NVIDIA Co. has a 1 year low of $258.50 and a 1 year high of $974.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The firm has a market cap of $2.26 trillion, a price-to-earnings ratio of 75.59, a PEG ratio of 1.33 and a beta of 1.73. The stock’s 50-day moving average is $758.96 and its two-hundred day moving average is $569.38.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $20.40 billion. During the same quarter last year, the business posted $0.65 EPS. The firm’s quarterly revenue was up 265.3% compared to the same quarter last year. Analysts predict that NVIDIA Co. will post 22.45 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were issued a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s payout ratio is 1.34%.

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.