NVIDIA Co. (NASDAQ:NVDA) Stock Position Reduced by Jackson Square Capital LLC

Jackson Square Capital LLC trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 21.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 178,495 shares of the computer hardware maker’s stock after selling 48,533 shares during the period. NVIDIA accounts for about 5.8% of Jackson Square Capital LLC’s holdings, making the stock its 2nd largest holding. Jackson Square Capital LLC’s holdings in NVIDIA were worth $23,970,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Ironwood Wealth Management LLC. grew its holdings in shares of NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock worth $782,000 after purchasing an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. boosted its position in shares of NVIDIA by 900.0% in the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock valued at $445,000 after purchasing an additional 3,240 shares during the period. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA during the 2nd quarter worth approximately $31,000. Pinnacle West Asset Management Inc. increased its position in NVIDIA by 894.2% during the second quarter. Pinnacle West Asset Management Inc. now owns 34,250 shares of the computer hardware maker’s stock worth $4,231,000 after buying an additional 30,805 shares during the period. Finally, Ballentine Partners LLC lifted its stake in NVIDIA by 1,002.0% in the second quarter. Ballentine Partners LLC now owns 425,124 shares of the computer hardware maker’s stock valued at $52,520,000 after buying an additional 386,546 shares during the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NVDA. Truist Financial upped their price target on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Bank of America reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note on Thursday, November 21st. Morgan Stanley dropped their price target on NVIDIA from $166.00 to $152.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. TD Cowen increased their price objective on NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.23.

Insider Activity

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the transaction, the insider now owns 480,899 shares in the company, valued at approximately $65,056,016.72. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock valued at $146,506,958 in the last 90 days. 4.23% of the stock is currently owned by insiders.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $129.84 on Friday. The company has a 50-day simple moving average of $135.48 and a 200-day simple moving average of $129.35. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market cap of $3.18 trillion, a PE ratio of 51.10, a price-to-earnings-growth ratio of 2.16 and a beta of 1.62. NVIDIA Co. has a 12 month low of $66.25 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA) last released its earnings results 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the company earned $0.38 EPS. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

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.