Abacus Planning Group Inc. Has $4.87 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Abacus Planning Group Inc. lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 7.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 36,289 shares of the computer hardware maker's stock after buying an additional 2,360 shares during the period. NVIDIA makes up about 0.9% of Abacus Planning Group Inc.'s investment portfolio, making the stock its 22nd largest holding. Abacus Planning Group Inc.'s holdings in NVIDIA were worth $4,873,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in NVDA. Hoertkorn Richard Charles lifted its position in shares of NVIDIA by 2.0% in the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker's stock worth $424,000 after purchasing an additional 70 shares in the last quarter. DiNuzzo Private Wealth Inc. increased its stake in NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock valued at $1,157,000 after buying an additional 71 shares during the period. Smart Portfolios LLC lifted its position in NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock worth $341,000 after buying an additional 75 shares in the last quarter. Palisade Asset Management LLC boosted its stake in shares of NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock valued at $1,866,000 after buying an additional 75 shares during the period. Finally, Baker Boyer National Bank grew its holdings in shares of NVIDIA by 3.3% during the 4th quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock valued at $323,000 after acquiring an additional 76 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

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NVIDIA Price Performance

Shares of NVIDIA stock traded down $0.72 during midday trading on Tuesday, hitting $120.69. 166,951,502 shares of the company were exchanged, compared to its average volume of 314,666,735. The firm has a 50 day simple moving average of $126.68 and a 200-day simple moving average of $131.46. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The firm has a market cap of $2.94 trillion, a P/E ratio of 47.50, a PEG ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analysts' expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA's dividend payout ratio is currently 1.36%.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 183,609 shares of company stock worth $22,642,615. 4.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NVDA. Morgan Stanley set a $162.00 target price on NVIDIA and gave the stock an "overweight" rating in a research report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a report on Wednesday, March 19th. Susquehanna reiterated a "positive" rating and issued a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Cantor Fitzgerald restated an "overweight" rating and set a $200.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, DA Davidson reduced their price objective on shares of NVIDIA from $135.00 to $125.00 and set a "neutral" rating for the company in a research note on Thursday, March 20th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $171.51.

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.