NVIDIA Co. (NASDAQ:NVDA) Stake Boosted by Alpha Cubed Investments LLC

Alpha Cubed Investments LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 6.4% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 61,805 shares of the computer hardware maker’s stock after buying an additional 3,707 shares during the quarter. NVIDIA makes up about 1.7% of Alpha Cubed Investments LLC’s investment portfolio, making the stock its 17th largest holding. Alpha Cubed Investments LLC’s holdings in NVIDIA were worth $30,607,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its stake in shares of NVIDIA by 54,019.5% during the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of NVIDIA by 1.1% during the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after purchasing an additional 2,287,471 shares in the last quarter. California Public Employees Retirement System raised its stake in shares of NVIDIA by 31.8% during the fourth quarter. California Public Employees Retirement System now owns 7,477,385 shares of the computer hardware maker’s stock valued at $3,702,951,000 after purchasing an additional 1,805,763 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new position in NVIDIA during the third quarter worth about $728,543,000. Finally, Assenagon Asset Management S.A. grew its holdings in NVIDIA by 99.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,384,968 shares of the computer hardware maker’s stock worth $1,037,437,000 after acquiring an additional 1,189,495 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. Insiders sold 61,278 shares of company stock valued at $52,689,898 over the last 90 days. 3.99% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on NVDA. Piper Sandler lifted their target price on NVIDIA from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Wednesday, March 20th. Sanford C. Bernstein lifted their target price on NVIDIA from $700.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Argus lifted their target price on NVIDIA from $850.00 to $950.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. HSBC lifted their target price on NVIDIA from $880.00 to $1,050.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $900.00 target price on shares of NVIDIA in a report on Monday, March 4th. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and an average price target of $944.05.

NVIDIA Trading Down 0.2 %

Shares of NASDAQ NVDA opened at $904.12 on Thursday. The stock has a market cap of $2.26 trillion, a price-to-earnings ratio of 75.72, a PEG ratio of 1.27 and a beta of 1.75. The business has a 50 day simple moving average of $872.36 and a 200 day simple moving average of $659.34. NVIDIA Co. has a 52 week low of $280.46 and a 52 week high of $974.00. 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 (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate 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 return on equity of 93.61% and a net margin of 48.85%. The firm’s quarterly revenue was up 265.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 EPS. On average, research analysts predict that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced 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. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s payout ratio is currently 1.34%.

NVIDIA 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.