NVIDIA Co. (NASDAQ:NVDA) is Cherry Creek Investment Advisors Inc.’s 9th Largest Position

Cherry Creek Investment Advisors Inc. lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 6.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,365 shares of the computer hardware maker’s stock after purchasing an additional 758 shares during the quarter. NVIDIA comprises about 3.9% of Cherry Creek Investment Advisors Inc.’s portfolio, making the stock its 9th largest holding. Cherry Creek Investment Advisors Inc.’s holdings in NVIDIA were worth $6,618,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LFA Lugano Financial Advisors SA purchased a new position in shares of NVIDIA in the 4th quarter valued at approximately $28,000. Peoples Financial Services CORP. purchased a new position in shares of NVIDIA in the 3rd quarter valued at approximately $30,000. Your Advocates Ltd. LLP purchased a new position in NVIDIA during the 3rd quarter worth approximately $30,000. Quarry LP purchased a new position in NVIDIA during the 1st quarter worth approximately $34,000. Finally, Compass Wealth Management LLC purchased a new position in NVIDIA during the 4th quarter worth approximately $39,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on NVDA. Needham & Company LLC raised their price target on shares of NVIDIA from $600.00 to $850.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Argus raised their price target on shares of NVIDIA from $850.00 to $950.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Jefferies Financial Group raised their price target 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. Evercore ISI started coverage on shares of NVIDIA in a research report on Tuesday. They set an “outperform” rating and a $1,160.00 price target for the company. Finally, Craig Hallum raised their price objective on shares of NVIDIA from $700.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $940.30.

NVIDIA Trading Down 3.9 %

Shares of NVDA opened at $840.35 on Thursday. NVIDIA Co. has a 52-week low of $262.25 and a 52-week high of $974.00. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The firm’s fifty day moving average is $840.89 and its two-hundred day moving average is $618.47. The stock has a market cap of $2.10 trillion, a PE ratio of 70.38, a price-to-earnings-growth ratio of 1.26 and a beta of 1.73.

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, topping 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 company had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The firm’s quarterly revenue was up 265.3% on a year-over-year basis. Research analysts forecast that NVIDIA Co. will post 22.45 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.04 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio is presently 1.34%.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the transaction, the director now owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the transaction, the director now directly owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock worth $52,689,898 in the last quarter. Company insiders own 3.99% of the company’s stock.

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.