Victory Capital Management Inc. Sells 472,457 Shares of NVIDIA Co. (NASDAQ:NVDA)

Victory Capital Management Inc. trimmed its position in NVIDIA Co. (NASDAQ:NVDA) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,870,041 shares of the computer hardware maker’s stock after selling 472,457 shares during the quarter. NVIDIA accounts for 2.3% of Victory Capital Management Inc.’s portfolio, making the stock its 3rd largest position. Victory Capital Management Inc.’s holdings in NVIDIA were worth $2,413,018,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Legal & General Group Plc raised its position in NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after purchasing an additional 191,469,114 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of NVIDIA by 854.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 182,622,629 shares of the computer hardware maker’s stock valued at $22,561,200,000 after purchasing an additional 163,482,580 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after buying an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of NVIDIA by 1,123.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock worth $11,371,255,000 after buying an additional 84,515,429 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after buying an additional 73,589,208 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

NASDAQ NVDA opened at $137.01 on Friday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $3.36 trillion, a PE ratio of 53.92, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. NVIDIA Co. has a 52-week low of $47.32 and a 52-week high of $152.89. The company has a 50-day simple moving average of $139.97 and a 200 day simple moving average of $127.95.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.38 EPS. On average, research analysts predict that NVIDIA Co. will post 2.78 EPS for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.57%.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. The trade was a 1.95 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mark A. Stevens sold 125,000 shares of the business’s stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $122.61, for a total value of $15,326,250.00. Following the transaction, the director now directly owns 8,255,117 shares of the company’s stock, valued at $1,012,159,895.37. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,351,886 shares of company stock valued at $176,825,650. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Barclays upped their target price on shares of NVIDIA from $145.00 to $160.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Mizuho upped their price objective on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Wedbush lifted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a research note on Thursday, November 21st. JPMorgan Chase & Co. boosted their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Melius Research raised their price target on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Four investment analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.15.

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.