Van ECK Associates Corp Has $5.51 Billion Position in NVIDIA Co. (NASDAQ:NVDA)

Van ECK Associates Corp lowered its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,000,642 shares of the computer hardware maker's stock after selling 2,965,708 shares during the period. NVIDIA makes up 7.0% of Van ECK Associates Corp's investment portfolio, making the stock its largest position. Van ECK Associates Corp owned about 0.17% of NVIDIA worth $5,505,976,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Legend Financial Advisors Inc. bought a new stake in NVIDIA during the fourth quarter worth about $34,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the fourth quarter worth approximately $40,000. DHJJ Financial Advisors Ltd. grew its position in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker's stock valued at $41,000 after acquiring an additional 140 shares during the last quarter. Lowe Wealth Advisors LLC bought a new position in NVIDIA during the fourth quarter valued at approximately $46,000. Finally, 1620 Investment Advisors Inc. raised its stake in shares of NVIDIA by 145.9% during the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker's stock worth $51,000 after acquiring an additional 248 shares in the last quarter. Institutional investors own 65.27% of the company's stock.

NVIDIA Stock Performance

Shares of NVIDIA stock traded up $3.51 during trading on Wednesday, hitting $118.94. 208,939,089 shares of the company's stock traded hands, compared to its average volume of 319,229,518. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $153.13. The business has a 50-day simple moving average of $128.17 and a 200-day simple moving average of $131.21. The stock has a market capitalization of $2.90 trillion, a P/E ratio of 46.75, 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.

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NVIDIA (NASDAQ:NVDA - Get Free Report) last announced 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. As a group, analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced 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. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA's dividend payout ratio is currently 1.36%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Phillip Securities reaffirmed an "accumulate" rating and set a $160.00 target price (up previously from $155.00) on shares of NVIDIA in a report on Friday, November 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday. The Goldman Sachs Group boosted their target price on NVIDIA from $150.00 to $165.00 and gave the company a "buy" rating in a research note on Thursday, November 21st. Truist Financial raised their price target on NVIDIA from $204.00 to $205.00 and gave the stock a "buy" rating in a research report on Thursday, February 27th. Finally, Wedbush reiterated an "outperform" rating and issued a $175.00 price objective on shares of NVIDIA in a research report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $171.76.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now directly owns 17,279 shares of the company's stock, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares of the company's stock, valued at $28,993,071.56. This represents a 17.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 92,449 shares of company stock worth $11,960,727. Company insiders own 4.23% of the company's stock.

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.