Allworth Financial LP raised its stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 12.0{fa54600cdce496f94cc1399742656d2709d9747721dfc890536efdd06456dfb9} in the 4th quarter, according to its most recent filing with the SEC. The fund owned 23,386 shares of the computer hardware maker’s stock after purchasing an additional 2,505 shares during the period. Allworth Financial LP’s holdings in NVIDIA were worth $3,418,000 as of its most recent SEC filing.
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Other institutional investors have also modified their holdings of the company. United Bank increased its position in NVIDIA by 28.9{fa54600cdce496f94cc1399742656d2709d9747721dfc890536efdd06456dfb9} in the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after buying an additional 1,730 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in NVIDIA by 6.8{fa54600cdce496f94cc1399742656d2709d9747721dfc890536efdd06456dfb9} during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after purchasing an additional 249,045 shares during the period. MAS Advisors LLC grew its position in NVIDIA by 42.1{fa54600cdce496f94cc1399742656d2709d9747721dfc890536efdd06456dfb9} in the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock worth $545,000 after purchasing an additional 583 shares during the last quarter. Navis Wealth Advisors LLC increased its stake in shares of NVIDIA by 205.3{fa54600cdce496f94cc1399742656d2709d9747721dfc890536efdd06456dfb9} in the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after purchasing an additional 1,950 shares during the period. Finally, Ergoteles LLC bought a new stake in shares of NVIDIA during the first quarter valued at approximately $929,000. Institutional investors and hedge funds own 61.80{fa54600cdce496f94cc1399742656d2709d9747721dfc890536efdd06456dfb9} of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on NVDA shares. Susquehanna reaffirmed a “positive” rating and set a $265.00 target price on shares of NVIDIA in a research note on Thursday, March 9th. Raymond James reaffirmed a “strong-buy” rating and issued a $290.00 price objective on shares of NVIDIA in a report on Thursday, March 2nd. Truist Financial raised their target price on shares of NVIDIA from $238.00 to $266.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Piper Sandler upped their price target on shares of NVIDIA from $200.00 to $225.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 22nd. Finally, Mizuho raised their price objective on shares of NVIDIA from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Thursday, February 23rd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $247.68.
NVIDIA Stock Up 1.2 {fa54600cdce496f94cc1399742656d2709d9747721dfc890536efdd06456dfb9}
NVDA stock opened at $261.99 on Wednesday. The company has a 50 day moving average of $214.96 and a two-hundred day moving average of $168.84. The company has a quick ratio of 2.73, a current ratio of 3.52 and a debt-to-equity ratio of 0.44. NVIDIA Co. has a 12-month low of $108.13 and a 12-month high of $289.46. The company has a market cap of $647.12 billion, a price-to-earnings ratio of 150.57, a PEG ratio of 4.57 and a beta of 1.76.
NVIDIA (NASDAQ:NVDA – Get Rating) last released its quarterly earnings data on Wednesday, February 22nd. The computer hardware maker reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.81 by $0.07. NVIDIA had a return on equity of 26.61{fa54600cdce496f94cc1399742656d2709d9747721dfc890536efdd06456dfb9} and a net margin of 16.19{fa54600cdce496f94cc1399742656d2709d9747721dfc890536efdd06456dfb9}. The firm had revenue of $6.05 billion during the quarter, compared to analysts’ expectations of $6.02 billion. During the same quarter last year, the firm earned $1.14 earnings per share. The business’s revenue for the quarter was down 20.8{fa54600cdce496f94cc1399742656d2709d9747721dfc890536efdd06456dfb9} on a year-over-year basis. On average, equities analysts anticipate that NVIDIA Co. will post 3.21 earnings per share for the current fiscal year.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 29th. Investors of record on Wednesday, March 8th will be issued a $0.04 dividend. The ex-dividend date is Tuesday, March 7th. This represents a $0.16 dividend on an annualized basis and a yield of 0.06{fa54600cdce496f94cc1399742656d2709d9747721dfc890536efdd06456dfb9}. NVIDIA’s dividend payout ratio is currently 9.20{fa54600cdce496f94cc1399742656d2709d9747721dfc890536efdd06456dfb9}.
Insider Activity at NVIDIA
In other news, CFO Colette Kress sold 10,741 shares of the stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $200.00, for a total transaction of $2,148,200.00. Following the transaction, the chief financial officer now owns 536,960 shares in the company, valued at approximately $107,392,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Colette Kress sold 10,741 shares of the company’s stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $200.00, for a total value of $2,148,200.00. Following the completion of the sale, the chief financial officer now directly owns 536,960 shares in the company, valued at $107,392,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 45,000 shares of the firm’s stock in a transaction dated Thursday, January 12th. The shares were sold at an average price of $164.70, for a total value of $7,411,500.00. Following the transaction, the director now owns 1,190,888 shares in the company, valued at $196,139,253.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 232,773 shares of company stock valued at $41,275,700. 4.04{fa54600cdce496f94cc1399742656d2709d9747721dfc890536efdd06456dfb9} of the stock is currently owned by corporate insiders.
NVIDIA Profile
NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, 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.
Further Reading
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