Alberta Investment Management Corp Reduces Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Alberta Investment Management Corp cut its holdings in NVIDIA Co. (NASDAQ:NVDA) by 6.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,125,216 shares of the computer hardware maker’s stock after selling 75,769 shares during the quarter. NVIDIA comprises 1.0% of Alberta Investment Management Corp’s holdings, making the stock its 12th largest position. Alberta Investment Management Corp’s holdings in NVIDIA were worth $151,105,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Geode Capital Management LLC increased its holdings in shares of NVIDIA by 2.2% in the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock valued at $66,101,133,000 after purchasing an additional 11,525,969 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in NVIDIA by 3.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock valued at $21,908,236,000 after acquiring an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of NVIDIA by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after purchasing an additional 2,042,348 shares during the period. Fisher Asset Management LLC boosted its stake in shares of NVIDIA by 3.5% during the 3rd quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker’s stock worth $11,745,763,000 after acquiring an additional 3,283,380 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its position in NVIDIA by 0.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 63,615,639 shares of the computer hardware maker’s stock worth $8,542,944,000 after purchasing an additional 186,761 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on NVDA. Morgan Stanley set a $162.00 price objective on shares of NVIDIA and gave the company an “overweight” rating in a report on Wednesday, March 19th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Benchmark restated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. William Blair reissued an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Finally, Truist Financial boosted their price target on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $171.51.

Insider Activity at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated 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 directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock valued at $22,117,015 in the last ninety days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 3.2 %

NASDAQ NVDA opened at $121.41 on Tuesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.96 trillion, a P/E ratio of 47.78, a P/E/G ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $153.13. The firm has a 50-day moving average price of $126.68 and a 200 day moving average price of $131.46.

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

NVIDIA Announces Dividend

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

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.