Jennison Associates LLC Sells 9,551,210 Shares of NVIDIA Co. (NASDAQ:NVDA)

Jennison Associates LLC decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 97,485,463 shares of the computer hardware maker’s stock after selling 9,551,210 shares during the quarter. NVIDIA comprises approximately 7.3% of Jennison Associates LLC’s holdings, making the stock its largest position. Jennison Associates LLC owned about 0.40% of NVIDIA worth $11,838,635,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hoertkorn Richard Charles increased its holdings in NVIDIA by 2.0% during the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock valued at $424,000 after purchasing an additional 70 shares in the last quarter. Smart Portfolios LLC increased its stake in shares of NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock valued at $341,000 after buying an additional 75 shares during the period. Total Wealth Planning LLC increased its stake in shares of NVIDIA by 3.6% in the 3rd quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after buying an additional 78 shares during the period. Boyd Watterson Asset Management LLC OH increased its stake in shares of NVIDIA by 0.3% in the 3rd quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock valued at $3,653,000 after buying an additional 80 shares during the period. Finally, Pavion Blue Capital LLC increased its stake in shares of NVIDIA by 0.4% in the 3rd quarter. Pavion Blue Capital LLC now owns 21,650 shares of the computer hardware maker’s stock valued at $2,629,000 after buying an additional 80 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $144.47 on Monday. The company has a market cap of $3.54 trillion, a P/E ratio of 56.86, a PEG ratio of 2.43 and a beta of 1.63. The business has a 50-day moving average price of $139.57 and a two-hundred day moving average price of $128.15. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 1-year low of $47.51 and a 1-year high of $152.89.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the prior year, the firm earned $0.38 EPS. The business’s revenue was up 93.6% on a year-over-year basis. As a group, analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

Insider Activity at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at $453,802,848.80. This trade represents a 1.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total transaction of $20,501,850.00. Following the sale, the director now owns 8,100,117 shares of the company’s stock, valued at approximately $1,071,402,475.59. The trade was a 1.88 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,226,886 shares of company stock valued at $161,499,400. 4.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVDA. TD Cowen lifted their target price on NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Redburn Atlantic assumed coverage on NVIDIA in a research report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price target on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. UBS Group boosted their price target on NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Truist Financial boosted their price target on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $164.15.

NVIDIA Company 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.