Alliancebernstein L.P. Lowers Position in NVIDIA Co. (NVDA)
Alliancebernstein L.P. trimmed its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 1,707,966 shares of the computer hardware maker’s stock after selling 186,974 shares during the quarter. Alliancebernstein L.P.’s holdings in NVIDIA were worth $330,491,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC grew its stake in shares of NVIDIA by 160.9% in the 3rd quarter. SG Americas Securities LLC now owns 195,787 shares of the computer hardware maker’s stock valued at $35,001,000 after purchasing an additional 120,734 shares during the period. KCS Wealth Advisory bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $282,000. Schwab Charles Investment Management Inc. grew its stake in shares of NVIDIA by 3.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,932,495 shares of the computer hardware maker’s stock valued at $345,473,000 after purchasing an additional 71,458 shares during the period. Oppenheimer Asset Management Inc. grew its stake in shares of NVIDIA by 45.8% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 27,391 shares of the computer hardware maker’s stock valued at $4,897,000 after purchasing an additional 8,605 shares during the period. Finally, Spectrum Management Group Inc. bought a new stake in shares of NVIDIA in the 3rd quarter valued at approximately $383,000. Hedge funds and other institutional investors own 61.46% of the company’s stock.
NVIDIA Co. (NASDAQ:NVDA) opened at $236.54 on Monday. NVIDIA Co. has a 1-year low of $95.17 and a 1-year high of $251.97. The company has a current ratio of 8.03, a quick ratio of 7.34 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $143,340.00, a price-to-earnings ratio of 51.31, a price-to-earnings-growth ratio of 3.71 and a beta of 1.43.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 23rd will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Thursday, February 22nd. NVIDIA’s dividend payout ratio is 13.02%.
Several research firms have recently weighed in on NVDA. BidaskClub upgraded NVIDIA from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 11th. Susquehanna Bancshares reiterated a “neutral” rating and issued a $200.00 price objective (up from $185.00) on shares of NVIDIA in a research note on Thursday, February 8th. Stifel Nicolaus upped their price objective on NVIDIA from $184.00 to $220.00 and gave the company a “hold” rating in a research note on Friday, February 9th. They noted that the move was a valuation call. Zacks Investment Research upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $262.00 price objective on the stock in a research note on Wednesday, January 24th. Finally, Jefferies Group upped their price objective on NVIDIA from $15.50 to $300.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. NVIDIA presently has an average rating of “Buy” and a consensus price target of $211.31.
In other news, Director Persis Drell sold 606 shares of the stock in a transaction on Wednesday, December 20th. The stock was sold at an average price of $197.07, for a total value of $119,424.42. Following the transaction, the director now owns 26,104 shares of the company’s stock, valued at approximately $5,144,315.28. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 171 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $185.57, for a total value of $31,732.47. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 58,443 shares of company stock worth $14,010,937. Company insiders own 5.82% of the company’s stock.
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Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.
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