Zacks Investment Management Has $381.89 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Zacks Investment Management cut its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,843,774 shares of the computer hardware maker’s stock after selling 216,149 shares during the period. NVIDIA comprises 3.5% of Zacks Investment Management’s portfolio, making the stock its 2nd biggest holding. Zacks Investment Management’s holdings in NVIDIA were worth $381,891,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of NVDA. Norges Bank bought a new stake in NVIDIA during the 4th quarter worth approximately $43,515,504,000. Clear Street Derivatives LLC bought a new position in NVIDIA in the 3rd quarter valued at $4,589,905,000. Proficio Capital Partners LLC grew its position in shares of NVIDIA by 14,641.2% during the 4th quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. APG Asset Management N.V. increased its holdings in shares of NVIDIA by 493.2% in the fourth quarter. APG Asset Management N.V. now owns 18,415,785 shares of the computer hardware maker’s stock worth $2,388,272,000 after purchasing an additional 15,311,330 shares during the period. Finally, GQG Partners LLC raised its position in shares of NVIDIA by 132.3% in the fourth quarter. GQG Partners LLC now owns 25,697,930 shares of the computer hardware maker’s stock worth $3,450,975,000 after buying an additional 14,636,057 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now owns 251,044 shares in the company, valued at $28,993,071.56. This represents a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 over the last three months. Company insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several recent analyst reports. Bank of America boosted their target price on NVIDIA from $150.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays dropped 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. Truist Financial upped their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Citigroup reissued a “buy” rating on shares of NVIDIA in a report on Wednesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $164.84.

NVIDIA Stock Performance

Shares of NASDAQ:NVDA opened at $135.34 on Thursday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $111.24 and a 200-day moving average price of $127.14. The company has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.26, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. As a group, equities analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s payout ratio is currently 1.36%.

NVIDIA 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.