Fmr LLC Sells 45,589,661 Shares of NVIDIA Co. (NASDAQ:NVDA)

Fmr LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 4.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 997,711,356 shares of the computer hardware maker’s stock after selling 45,589,661 shares during the quarter. NVIDIA accounts for 7.4% of Fmr LLC’s holdings, making the stock its biggest position. Fmr LLC owned approximately 4.07% of NVIDIA worth $121,162,067,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Summit Financial Wealth Advisors LLC raised its holdings in shares of NVIDIA by 22.4% during the third quarter. Summit Financial Wealth Advisors LLC now owns 3,437 shares of the computer hardware maker’s stock worth $417,000 after acquiring an additional 630 shares during the period. Elios Financial Group Inc. bought a new position in NVIDIA during the 3rd quarter worth about $578,000. Blue Investment Partners LLC lifted its holdings in shares of NVIDIA by 19.3% in the third quarter. Blue Investment Partners LLC now owns 87,060 shares of the computer hardware maker’s stock valued at $10,573,000 after purchasing an additional 14,100 shares in the last quarter. West Tower Group LLC acquired a new position in shares of NVIDIA during the third quarter worth about $364,000. Finally, Capital Square LLC grew its holdings in shares of NVIDIA by 29.0% during the third quarter. Capital Square LLC now owns 7,523 shares of the computer hardware maker’s stock worth $914,000 after buying an additional 1,691 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent research reports. Melius Research upped their price target on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Raymond James raised their price objective on NVIDIA from $140.00 to $170.00 and gave the company a “strong-buy” rating in a report on Thursday, November 14th. Bank of America reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Finally, Susquehanna raised their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has 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 $164.63.

Insiders Place Their Bets

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 over the last three months. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 3.0 %

Shares of NASDAQ:NVDA opened at $135.91 on Friday. The business’s 50 day simple moving average is $139.90 and its 200 day simple moving average is $128.68. The company has a market capitalization of $3.33 trillion, a P/E ratio of 53.49, a P/E/G ratio of 2.43 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $53.56 and a 1 year high of $153.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. On average, research analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were paid a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

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.