Thornburg Investment Management Inc. Sells 170,001 Shares of NVIDIA Corporation $NVDA

Thornburg Investment Management Inc. reduced its stake in NVIDIA Corporation (NASDAQ:NVDA) by 92.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,427 shares of the computer hardware maker’s stock after selling 170,001 shares during the period. Thornburg Investment Management Inc.’s holdings in NVIDIA were worth $2,279,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Morton Brown Family Wealth LLC raised its holdings in shares of NVIDIA by 1.5% during the 2nd quarter. Morton Brown Family Wealth LLC now owns 3,928 shares of the computer hardware maker’s stock worth $621,000 after acquiring an additional 58 shares in the last quarter. Roof Eidam Maycock Peralta LLC increased its position in NVIDIA by 0.3% in the second quarter. Roof Eidam Maycock Peralta LLC now owns 20,903 shares of the computer hardware maker’s stock worth $3,302,000 after purchasing an additional 58 shares during the last quarter. Alpha Wealth Funds LLC raised its stake in NVIDIA by 1.3% during the second quarter. Alpha Wealth Funds LLC now owns 4,634 shares of the computer hardware maker’s stock valued at $732,000 after purchasing an additional 59 shares in the last quarter. Copia Wealth Management lifted its position in NVIDIA by 14.7% during the second quarter. Copia Wealth Management now owns 468 shares of the computer hardware maker’s stock valued at $74,000 after purchasing an additional 60 shares during the last quarter. Finally, BKM Wealth Management LLC lifted its position in NVIDIA by 1.1% during the second quarter. BKM Wealth Management LLC now owns 5,745 shares of the computer hardware maker’s stock valued at $908,000 after purchasing an additional 60 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity

In other NVIDIA news, Director A Brooke Seawell sold 12,728 shares of NVIDIA stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $183.93, for a total transaction of $2,341,061.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 27,640 shares of the stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $208.33, for a total value of $5,758,241.20. Following the transaction, the chief financial officer directly owned 2,828,122 shares in the company, valued at $589,182,656.26. The trade was a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 3,029,931 shares of company stock valued at $548,443,455. Insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Needham & Company LLC restated a “buy” rating and set a $240.00 target price on shares of NVIDIA in a research report on Thursday, November 20th. Rothschild & Co Redburn upped their price objective on NVIDIA from $211.00 to $245.00 and gave the company a “buy” rating in a research report on Monday, November 17th. Hsbc Global Res raised NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Melius Research lifted their target price on NVIDIA from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, November 20th. Finally, Evercore ISI set a $352.00 price target on NVIDIA and gave the company an “outperform” rating in a report on Thursday, November 20th. Four investment analysts have rated the stock with a Strong Buy rating, forty-six have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $258.65.

NVIDIA Price Performance

Shares of NVDA stock opened at $183.78 on Thursday. The stock has a 50 day moving average price of $187.10 and a 200 day moving average price of $173.19. NVIDIA Corporation has a 52-week low of $86.62 and a 52-week high of $212.19. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47. The firm has a market capitalization of $4.47 trillion, a P/E ratio of 45.60, a P/E/G ratio of 0.91 and a beta of 2.29.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. The business had revenue of $57.01 billion for the quarter, compared to analyst estimates of $54.66 billion. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The business’s revenue was up 62.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.81 earnings per share. As a group, sell-side analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Thursday, December 4th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.0%. NVIDIA’s dividend payout ratio (DPR) is 0.99%.

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.