NVIDIA Co. (NASDAQ:NVDA) Position Lifted by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 96,041 shares of the computer hardware maker’s stock after purchasing an additional 6,034 shares during the quarter. NVIDIA makes up 4.4% of Adell Harriman & Carpenter Inc.’s holdings, making the stock its 4th largest position. Adell Harriman & Carpenter Inc.’s holdings in NVIDIA were worth $47,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. Israel Discount Bank of New York lifted its position in shares of NVIDIA by 20.5% during the fourth quarter. Israel Discount Bank of New York now owns 3,074 shares of the computer hardware maker’s stock valued at $1,522,000 after buying an additional 522 shares during the last quarter. EWA LLC raised its stake in shares of NVIDIA by 432.2% during the 4th quarter. EWA LLC now owns 6,418 shares of the computer hardware maker’s stock worth $3,178,000 after acquiring an additional 5,212 shares in the last quarter. Naviter Wealth LLC lifted its position in NVIDIA by 39.8% during the fourth quarter. Naviter Wealth LLC now owns 8,176 shares of the computer hardware maker’s stock valued at $4,049,000 after acquiring an additional 2,329 shares during the last quarter. Investment House LLC boosted its stake in NVIDIA by 3.0% in the fourth quarter. Investment House LLC now owns 69,488 shares of the computer hardware maker’s stock valued at $34,412,000 after acquiring an additional 2,050 shares in the last quarter. Finally, Bluesphere Advisors LLC increased its position in shares of NVIDIA by 85.8% during the fourth quarter. Bluesphere Advisors LLC now owns 3,521 shares of the computer hardware maker’s stock worth $1,744,000 after purchasing an additional 1,626 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Down 1.7 %

NASDAQ NVDA opened at $905.54 on Wednesday. The business has a fifty day moving average price of $872.36 and a 200 day moving average price of $659.34. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The company has a market cap of $2.26 trillion, a P/E ratio of 75.84, a P/E/G ratio of 1.27 and a beta of 1.75. NVIDIA Co. has a one year low of $280.46 and a one year high of $974.00.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The business had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company’s quarterly revenue was up 265.3% compared to the same quarter last year. During the same period in the prior year, the business earned $0.65 earnings per share. Research analysts anticipate that NVIDIA Co. will post 22.55 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently weighed in on NVDA. Piper Sandler Companies raised their price objective on NVIDIA to $850.00 and gave the stock an “overweight” rating in a research report on Friday, February 16th. Cantor Fitzgerald restated an “overweight” rating and set a $900.00 price objective on shares of NVIDIA in a report on Monday, March 4th. Loop Capital began coverage on shares of NVIDIA in a research report on Friday, February 16th. They set a “buy” rating and a $1,200.00 target price on the stock. DA Davidson raised their price target on shares of NVIDIA from $410.00 to $620.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Finally, Citigroup lifted their price objective on shares of NVIDIA from $820.00 to $1,030.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $944.05.

Insider Buying and Selling at NVIDIA

In other news, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Mark A. Stevens sold 5,000 shares of NVIDIA stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the sale, the director now owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction that occurred on 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 owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock worth $52,689,898 in the last three months. 3.99% of the stock is owned by corporate insiders.

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.