NVIDIA Co. (NASDAQ:NVDA) is ClariVest Asset Management LLC’s 7th Largest Position

ClariVest Asset Management LLC lessened its stake in NVIDIA Co. (NASDAQ:NVDAGet Rating) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 331,903 shares of the computer hardware maker’s stock after selling 14,612 shares during the quarter. NVIDIA makes up about 2.2% of ClariVest Asset Management LLC’s portfolio, making the stock its 7th biggest holding. ClariVest Asset Management LLC’s holdings in NVIDIA were worth $50,314,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in NVIDIA by 1.2% during the first quarter. Vanguard Group Inc. now owns 198,462,079 shares of the computer hardware maker’s stock worth $54,152,363,000 after purchasing an additional 2,446,529 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of NVIDIA by 2.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 12,269,735 shares of the computer hardware maker’s stock worth $3,347,921,000 after buying an additional 243,671 shares during the period. Edgewood Management LLC increased its stake in shares of NVIDIA by 8.6% during the first quarter. Edgewood Management LLC now owns 12,195,984 shares of the computer hardware maker’s stock worth $3,327,796,000 after buying an additional 964,349 shares during the period. Swiss National Bank increased its stake in shares of NVIDIA by 14.0% during the first quarter. Swiss National Bank now owns 10,828,224 shares of the computer hardware maker’s stock worth $2,954,589,000 after buying an additional 1,325,800 shares during the period. Finally, Invesco Ltd. increased its stake in shares of NVIDIA by 4.9% during the first quarter. Invesco Ltd. now owns 10,691,529 shares of the computer hardware maker’s stock worth $2,917,292,000 after buying an additional 496,713 shares during the period. Institutional investors and hedge funds own 62.58% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley dropped their price target on shares of NVIDIA from $182.00 to $175.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 17th. Raymond James decreased their price target on NVIDIA from $210.00 to $190.00 and set a “strong-buy” rating for the company in a report on Thursday, November 17th. Credit Suisse Group reaffirmed an “outperform” rating and set a $210.00 price target (up from $205.00) on shares of NVIDIA in a report on Wednesday, November 16th. Barclays increased their price objective on NVIDIA to $170.00 in a research report on Monday. Finally, Needham & Company LLC increased their price objective on NVIDIA from $155.00 to $200.00 and gave the stock a “buy” rating in a research report on Thursday, November 17th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $211.09.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 87,500 shares of the company’s stock in a transaction on Thursday, October 13th. The stock was sold at an average price of $119.65, for a total transaction of $10,469,375.00. Following the transaction, the director now directly owns 2,310,193 shares of the company’s stock, valued at $276,414,592.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark A. Stevens sold 87,500 shares of the company’s stock in a transaction dated Thursday, October 13th. The stock was sold at an average price of $119.65, for a total transaction of $10,469,375.00. Following the completion of the sale, the director now owns 2,310,193 shares in the company, valued at approximately $276,414,592.45. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 85,000 shares of the company’s stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $116.49, for a total value of $9,901,650.00. Following the sale, the director now owns 2,397,693 shares of the company’s stock, valued at approximately $279,307,257.57. The disclosure for this sale can be found here. 4.04% of the stock is owned by insiders.

NVIDIA Stock Performance

Shares of NASDAQ NVDA traded up $4.81 during trading on Thursday, reaching $165.19. The stock had a trading volume of 42,724,093 shares, compared to its average volume of 54,820,152. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.74 and a current ratio of 3.39. NVIDIA Co. has a one year low of $108.13 and a one year high of $334.12. The firm’s 50 day moving average price is $134.31 and its two-hundred day moving average price is $155.76. The stock has a market cap of $411.32 billion, a PE ratio of 70.29, a P/E/G ratio of 5.94 and a beta of 1.70.

NVIDIA (NASDAQ:NVDAGet Rating) last announced its quarterly earnings data on Wednesday, November 16th. The computer hardware maker reported $0.58 earnings per share for the quarter, missing the consensus estimate of $0.71 by ($0.13). The firm had revenue of $5.93 billion during the quarter, compared to analyst estimates of $5.82 billion. NVIDIA had a net margin of 20.85% and a return on equity of 30.75%. The company’s quarterly revenue was down 16.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 EPS. On average, research analysts forecast that NVIDIA Co. will post 2.25 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 22nd. Investors of record on Thursday, December 1st will be given a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.10%. The ex-dividend date of this dividend is Wednesday, November 30th. NVIDIA’s payout ratio is 6.81%.

About NVIDIA

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NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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