ARK Investment Management LLC Decreases NVIDIA Co. (NASDAQ: NVDA) Position

ARK Investment Management LLC Decreases NVIDIA Co. (NASDAQ: NVDA) Position


ARK Investment Management LLC lessened its stake in NVIDIA Co. (NASDAQ:NVDAFree Report) by 34.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 148,081 shares of the computer hardware maker’s stock after selling 76,712 shares during the quarter. ARK Investment Management LLC’s holdings in NVIDIA were worth $73,333,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Peoples Financial Services CORP. bought a new stake in NVIDIA in the third quarter worth $30,000. Your Advocates Ltd. LLP bought a new stake in NVIDIA in the third quarter worth $30,000. Quarry LP bought a new stake in NVIDIA in the first quarter worth $34,000. Compass Wealth Management LLC bought a new stake in NVIDIA in the fourth quarter worth $39,000. Finally, Trivant Custom Portfolio Group LLC increased its position in NVIDIA by 44.1% in the third quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock worth $43,000 after purchasing an additional 30 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 0.1 %

Shares of NVDA opened at $903.56 on Friday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The stock has a market cap of $2.26 trillion, a PE ratio of 75.68, a price-to-earnings-growth ratio of 1.30 and a beta of 1.73. The firm’s fifty day moving average is $772.45 and its two-hundred day moving average is $574.01. NVIDIA Co. has a 52-week low of $262.20 and a 52-week high of $974.00.

NVIDIA (NASDAQ:NVDAGet Free Report) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. The company had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.65 earnings per share. Research analysts forecast that NVIDIA Co. will post 22.45 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were paid a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. NVIDIA’s payout ratio is 1.34%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Mizuho boosted their price target on shares of NVIDIA from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Wolfe Research increased their target price on shares of NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Sanford C. Bernstein increased their target price on shares of NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Tigress Financial raised their price target on shares of NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Finally, Citigroup lifted their target price on shares of NVIDIA from $820.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $908.68.

View Our Latest Report on NVIDIA

Insider Buying and Selling

In related news, Director John Dabiri sold 128 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the sale, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John Dabiri sold 128 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now directly owns 2,055 shares of the company’s stock, valued at $1,931,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 36,000 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $546.95, for a total value of $19,690,200.00. Following the completion of the transaction, the director now directly owns 1,134,583 shares of the company’s stock, valued at $620,560,171.85. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 105,352 shares of company stock worth $64,853,077. Company insiders own 3.99% of the company’s stock.

NVIDIA Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)



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