NVIDIA Co. (NASDAQ:NVDA) is Jennison Associates LLC’s Largest Position
Jennison Associates LLC decreased its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 0.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 97,252,072 shares of the computer hardware maker’s stock after selling 233,391 shares during the period. NVIDIA makes up 7.9% of Jennison Associates LLC’s portfolio, making the stock its largest holding. Jennison Associates LLC’s holdings in NVIDIA were worth $13,059,981,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of NVDA. Christopher J. Hasenberg Inc purchased a new stake in shares of NVIDIA during the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in shares of NVIDIA during the 2nd quarter valued at about $31,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the 4th quarter valued at about $34,000. West Financial Advisors LLC purchased a new stake in shares of NVIDIA during the 3rd quarter valued at about $36,000. Finally, Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.
NVIDIA Stock Performance
NASDAQ:NVDA opened at $124.81 on Monday. The stock’s fifty day moving average is $134.19 and its 200 day moving average is $132.12. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $153.13. The firm has a market capitalization of $3.05 trillion, a PE ratio of 49.12, a PEG ratio of 1.76 and a beta of 1.62. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.
NVIDIA (NASDAQ:NVDA – Get Free Report) last released its 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 return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.
NVIDIA Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.01 dividend. 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 payout ratio is 1.36%.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on NVDA. Truist Financial upped their price target on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday. Morgan Stanley reiterated an “overweight” rating and set a $162.00 price objective (up from $152.00) on shares of NVIDIA in a research note on Wednesday. Barclays boosted their price objective on NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Deutsche Bank Aktiengesellschaft boosted their price objective on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Finally, Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research note on Wednesday. Five research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $169.62.
Read Our Latest Research Report on NVIDIA
Insiders Place Their Bets
In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA 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 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 1,107,632 shares of company stock worth $146,405,286 over the last quarter. Company insiders own 4.23% of the company’s stock.
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.
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