Sawgrass Asset Management LLC Has $35.36 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Sawgrass Asset Management LLC decreased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 263,333 shares of the computer hardware maker’s stock after selling 17,029 shares during the period. NVIDIA makes up 3.9% of Sawgrass Asset Management LLC’s portfolio, making the stock its 5th biggest holding. Sawgrass Asset Management LLC’s holdings in NVIDIA were worth $35,363,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA in the fourth quarter worth about $34,000. Luken Investment Analytics LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth approximately $40,000. DHJJ Financial Advisors Ltd. boosted its holdings in shares of NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after purchasing an additional 140 shares during the period. Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth approximately $46,000. Finally, 1620 Investment Advisors Inc. boosted its holdings in shares of NVIDIA by 145.9% during the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock worth $51,000 after purchasing an additional 248 shares during the period. Institutional investors own 65.27% of the company’s stock.

Insiders Place Their Bets

In other 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 value of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 5.3 %

NVDA opened at $121.67 on Monday. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. 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 firm’s fifty day moving average price is $129.26 and its two-hundred day moving average price is $131.23. The company has a market capitalization of $2.97 trillion, a P/E ratio of 47.88, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. On average, analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

NVDA has been the subject of several research reports. Deutsche Bank Aktiengesellschaft raised their price target on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. TD Cowen raised their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Robert W. Baird raised their price target on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Citigroup raised their price target on shares of NVIDIA from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, The Goldman Sachs Group raised their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $171.51.

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.