NVIDIA Co. (NASDAQ:NVDA) is Douglas Lane & Associates LLC’s 3rd Largest Position

Douglas Lane & Associates LLC reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 13.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 326,572 shares of the computer hardware maker’s stock after selling 51,099 shares during the period. NVIDIA accounts for 2.5% of Douglas Lane & Associates LLC’s portfolio, making the stock its 3rd biggest holding. Douglas Lane & Associates LLC’s holdings in NVIDIA were worth $161,725,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the company. United Bank boosted its stake in shares of NVIDIA by 28.9% in the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock worth $2,106,000 after acquiring an additional 1,730 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in NVIDIA by 6.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock worth $1,065,457,000 after acquiring an additional 249,045 shares during the last quarter. MAS Advisors LLC boosted its position in shares of NVIDIA by 42.1% during the 1st quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after acquiring an additional 583 shares during the last quarter. Navis Wealth Advisors LLC lifted its stake in shares of NVIDIA by 205.3% in the 1st 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 last quarter. Finally, Ergoteles LLC purchased a new position in shares of NVIDIA in the 1st quarter worth approximately $929,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Mizuho boosted their price objective on shares of NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a research report on Thursday, March 7th. Jefferies Financial Group increased their price objective on shares of NVIDIA from $610.00 to $780.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. CICC Research initiated coverage on NVIDIA in a research note on Wednesday, March 6th. They set an “outperform” rating and a $870.00 target price on the stock. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 price target on shares of NVIDIA in a report on Tuesday, March 19th. Finally, Wolfe Research upped their price objective on NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $908.68.

NVIDIA Price Performance

NASDAQ:NVDA opened at $902.50 on Thursday. The stock’s 50-day moving average price is $758.96 and its 200-day moving average price is $569.38. NVIDIA Co. has a 52 week low of $258.50 and a 52 week high of $974.00. The stock has a market capitalization of $2.26 trillion, a PE ratio of 75.59, a price-to-earnings-growth ratio of 1.33 and a beta of 1.73. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 265.3% compared to the same quarter last year. As a group, equities analysts expect that NVIDIA Co. will post 22.45 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio is currently 1.34%.

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 35,648 shares of the business’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $542.93, for a total transaction of $19,354,368.64. Following the transaction, the director now directly owns 1,189,083 shares in the company, valued at $645,588,833.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 35,648 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $542.93, for a total value of $19,354,368.64. Following the completion of the sale, the director now directly owns 1,189,083 shares in the company, valued at approximately $645,588,833.19. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $484.62, for a total transaction of $218,079.00. Following the transaction, the insider now directly owns 50,961 shares in the company, valued at approximately $24,696,719.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 105,352 shares of company stock worth $64,853,077. Corporate insiders own 3.99% of the company’s stock.

About NVIDIA

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.