Sheets Smith Investment Management Buys Shares of 22,508 NVIDIA Co. (NASDAQ:NVDA)

Sheets Smith Investment Management bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 22,508 shares of the computer hardware maker's stock, valued at approximately $3,023,000. NVIDIA accounts for about 2.6% of Sheets Smith Investment Management's holdings, making the stock its 9th largest holding.

A number of other institutional investors and hedge funds have also bought and sold shares of NVDA. Clear Street Derivatives LLC bought a new position in NVIDIA during the third quarter worth about $4,589,905,000. Proficio Capital Partners LLC increased its holdings in shares of NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. Amundi raised its position in shares of NVIDIA by 12.9% in the fourth quarter. Amundi now owns 117,036,612 shares of the computer hardware maker's stock valued at $16,394,224,000 after buying an additional 13,406,054 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of NVIDIA by 2.2% in the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker's stock valued at $66,101,133,000 after buying an additional 11,525,969 shares during the period. Finally, KLP Kapitalforvaltning AS acquired a new stake in NVIDIA during the fourth quarter worth approximately $1,226,371,000. Institutional investors and hedge funds own 65.27% of the company's stock.

Insider Activity at NVIDIA

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,147 shares of company stock valued at $17,133,207. 4.23% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $160.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Hsbc Global Res cut shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research report on Thursday, April 3rd. Raymond James reissued a "strong-buy" rating on shares of NVIDIA in a report on Wednesday, April 16th. Barclays cut their price target on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Finally, Bank of America decreased their price objective on shares of NVIDIA from $200.00 to $160.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, NVIDIA currently has an average rating of "Moderate Buy" and a consensus price target of $164.96.

NVIDIA Stock Up 0.3 %

NASDAQ:NVDA traded up $0.29 during trading hours on Tuesday, hitting $109.02. 168,927,158 shares of the company traded hands, compared to its average volume of 303,716,612. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market cap of $2.66 trillion, a PE ratio of 42.90, a PEG ratio of 1.76 and a beta of 1.96. The firm's 50-day simple moving average is $112.60 and its 200-day simple moving average is $128.76. NVIDIA Co. has a one year low of $81.25 and a one year high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.84 by $0.05. The business had revenue of $39.33 billion for 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%. Equities analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's dividend payout ratio is presently 1.36%.

NVIDIA Company 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.