Assenagon Asset Management S.A. Has $1.57 Billion Holdings in NVIDIA Co. (NASDAQ:NVDA)

Assenagon Asset Management S.A. cut its position in NVIDIA Co. (NASDAQ:NVDA) by 25.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,703,838 shares of the computer hardware maker’s stock after selling 3,957,183 shares during the quarter. NVIDIA comprises about 2.5% of Assenagon Asset Management S.A.’s holdings, making the stock its 5th largest position. Assenagon Asset Management S.A.’s holdings in NVIDIA were worth $1,571,708,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NVDA. Quest Partners LLC bought a new stake in NVIDIA during the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA during the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. bought a new position in shares of NVIDIA in the second quarter worth $31,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA during the fourth quarter valued at $34,000. Finally, West Financial Advisors LLC purchased a new position in NVIDIA during the third quarter worth about $36,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on NVDA. Benchmark reissued a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a research note on Tuesday, January 7th. Morgan Stanley cut their price objective on shares of NVIDIA from $166.00 to $152.00 and set an “overweight” rating for the company in a research note on Tuesday. Melius Research boosted their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Truist Financial lifted their target price on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Finally, Citigroup boosted their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $166.23.

Insider Transactions at NVIDIA

In related news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,108,348 shares of company stock worth $146,506,958 in the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 3.7 %

Shares of NVIDIA stock opened at $120.07 on Friday. The stock has a market capitalization of $2.94 trillion, a PE ratio of 47.25, a price-to-earnings-growth ratio of 2.23 and a beta of 1.64. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a 50-day simple moving average of $137.02 and a two-hundred day simple moving average of $129.37. NVIDIA Co. has a 52-week low of $60.70 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same period last year, the company earned $0.38 EPS. On average, analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Thursday, December 5th were paid a dividend of $0.01 per share. 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 is presently 1.57%.

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.