NewEdge Wealth LLC increased its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 12.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 672,393 shares of the computer hardware maker's stock after acquiring an additional 76,394 shares during the period. NVIDIA makes up about 1.6% of NewEdge Wealth LLC's holdings, making the stock its 9th largest holding. NewEdge Wealth LLC's holdings in NVIDIA were worth $90,296,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. DiNuzzo Private Wealth Inc. increased its stake in shares of NVIDIA by 0.8% during the fourth quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock worth $1,157,000 after acquiring an additional 71 shares during the period. Smart Portfolios LLC lifted its holdings in shares of NVIDIA by 2.7% in the 3rd quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker's stock valued at $341,000 after buying an additional 75 shares during the period. Palisade Asset Management LLC grew its holdings in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker's stock worth $1,866,000 after acquiring an additional 75 shares during the period. Baker Boyer National Bank raised its position in NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after acquiring an additional 76 shares in the last quarter. Finally, Kwmg LLC boosted its position in shares of NVIDIA by 0.6% during the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock worth $1,755,000 after purchasing an additional 77 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.
NVIDIA Stock Performance
Shares of NASDAQ:NVDA traded down $7.49 during midday trading on Friday, hitting $94.31. The company's stock had a trading volume of 529,399,816 shares, compared to its average volume of 312,806,578. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock's 50 day simple moving average is $121.20 and its 200 day simple moving average is $131.07. The stock has a market capitalization of $2.30 trillion, a price-to-earnings ratio of 37.12, a PEG ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a fifty-two week low of $75.61 and a fifty-two week high of $195.95.
NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. As a group, research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.
NVIDIA Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA's dividend payout ratio is 1.36%.
Wall Street Analysts Forecast Growth
A number of brokerages have issued reports on NVDA. Bank of America reaffirmed a "buy" rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Cantor Fitzgerald reiterated an "overweight" rating and set a $200.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Morgan Stanley set a $162.00 price target on NVIDIA and gave the stock an "overweight" rating in a research note on Wednesday, March 19th. Summit Insights cut shares of NVIDIA from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Finally, Rosenblatt Securities restated a "buy" rating and set a $220.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $169.89.
View Our Latest Research Report on NVDA
Insider Activity at NVIDIA
In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares of the company's stock, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Dabiri sold 2,663 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now directly 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 183,609 shares of company stock worth $22,642,615. Company insiders own 4.23% of the company's stock.
NVIDIA Profile
(
Free Report)
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.
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