NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Accuvest Global Advisors

Accuvest Global Advisors raised its position in NVIDIA Co. (NASDAQ:NVDA) by 285.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 19,912 shares of the computer hardware maker’s stock after acquiring an additional 14,746 shares during the quarter. NVIDIA accounts for about 3.8% of Accuvest Global Advisors’ investment portfolio, making the stock its 15th biggest position. Accuvest Global Advisors’ holdings in NVIDIA were worth $2,674,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in NVDA. AMF Tjanstepension AB raised its stake in shares of NVIDIA by 2.2% during the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock valued at $976,348,000 after purchasing an additional 169,445 shares in the last quarter. Wealth Group Ltd. increased its stake in shares of NVIDIA by 5.0% during the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock valued at $680,000 after acquiring an additional 265 shares during the period. SOA Wealth Advisors LLC. raised its holdings in NVIDIA by 0.3% during the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after purchasing an additional 350 shares in the last quarter. Swedbank AB lifted its position in NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock worth $4,965,526,000 after purchasing an additional 1,868,358 shares during the period. Finally, Riverview Trust Co boosted its stake in NVIDIA by 0.8% during the 3rd quarter. Riverview Trust Co now owns 18,235 shares of the computer hardware maker’s stock valued at $2,214,000 after purchasing an additional 145 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NVDA. DA Davidson cut their price objective on NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Bank of America reaffirmed a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 target price on NVIDIA in a report on Wednesday, March 19th. Finally, Wedbush restated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research report on Thursday, February 20th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Stock Up 3.2 %

Shares of NVDA opened at $121.41 on Tuesday. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a 50-day moving average price of $126.68 and a two-hundred day moving average price of $131.46. The stock has a market cap of $2.96 trillion, a price-to-earnings ratio of 47.78, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Equities analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s payout ratio is presently 1.36%.

Insider Buying and Selling

In other news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock worth $22,117,015 in the last quarter. Insiders own 4.23% 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.