Cedrus LLC Purchases 680 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cedrus LLC grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 98.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,369 shares of the computer hardware maker’s stock after purchasing an additional 680 shares during the period. Cedrus LLC’s holdings in NVIDIA were worth $678,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of NVDA. Norges Bank bought a new stake in NVIDIA during the 4th quarter worth approximately $3,900,874,000. Moneta Group Investment Advisors LLC increased its position in NVIDIA by 160,446.3% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 19,586,643 shares of the computer hardware maker’s stock worth $2,862,392,000 after purchasing an additional 19,574,443 shares during the period. International Assets Investment Management LLC grew its position in shares of NVIDIA by 54,019.5% during the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after buying an additional 16,835,703 shares during the period. Morgan Stanley raised its position in shares of NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after acquiring an additional 4,621,002 shares during the last quarter. Finally, Barclays PLC increased its stake in shares of NVIDIA by 55.7% in the 2nd quarter. Barclays PLC now owns 7,661,032 shares of the computer hardware maker’s stock valued at $3,240,769,000 after acquiring an additional 2,740,850 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NVDA. TD Cowen boosted their target price on NVIDIA from $900.00 to $1,100.00 and gave the company an “outperform” rating in a research note on Thursday, March 21st. Loop Capital initiated coverage on NVIDIA in a research note on Friday, February 16th. They set a “buy” rating and a $1,200.00 target price for the company. The Goldman Sachs Group lifted their price target on shares of NVIDIA from $875.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. UBS Group boosted their price objective on shares of NVIDIA from $800.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Finally, KeyCorp lifted their price target on NVIDIA from $1,100.00 to $1,200.00 and gave the company an “overweight” rating in a research note on Monday, April 8th. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $940.30.

NVIDIA Stock Performance

Shares of NVDA stock opened at $846.71 on Friday. The company has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 70.91, a PEG ratio of 1.26 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. NVIDIA Co. has a 52 week low of $262.25 and a 52 week high of $974.00. The company has a 50-day simple moving average of $843.90 and a 200 day simple moving average of $620.05.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. The company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s revenue was up 265.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.65 earnings per share. On average, sell-side analysts predict that NVIDIA Co. will post 22.45 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 22,700 shares of the company’s 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 transaction, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the business’s 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 sale, the director now owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark A. Stevens sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the transaction, the director now directly owns 1,107,583 shares in the company, valued at $945,366,393.82. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is currently owned by corporate insiders.

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.