Midwest Capital Advisors LLC Acquires New Position in NVIDIA Co. (NASDAQ:NVDA)

Midwest Capital Advisors LLC bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,978 shares of the computer hardware maker’s stock, valued at approximately $803,000. NVIDIA accounts for about 0.6% of Midwest Capital Advisors LLC’s investment portfolio, making the stock its 29th largest holding.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. AMF Tjanstepension AB increased its stake in NVIDIA by 2.2% during the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after acquiring an additional 169,445 shares during the last quarter. Wealth Group Ltd. grew its holdings in shares of NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after purchasing an additional 265 shares during the period. SOA Wealth Advisors LLC. increased its position in shares of NVIDIA by 0.3% during the 3rd 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 during the last quarter. Swedbank AB raised its holdings in NVIDIA by 4.8% in the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after buying an additional 1,868,358 shares during the period. Finally, Sweeney & Michel LLC lifted its position in NVIDIA by 27.0% in the third quarter. Sweeney & Michel LLC now owns 18,692 shares of the computer hardware maker’s stock valued at $2,270,000 after buying an additional 3,979 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. This represents a 13.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly 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. Over the last ninety days, insiders sold 183,609 shares of company stock valued at $22,642,615. 4.23% of the stock is currently owned by company insiders.

NVIDIA Price Performance

Shares of NASDAQ:NVDA opened at $109.67 on Friday. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $195.95. The firm has a market capitalization of $2.68 trillion, a P/E ratio of 43.16, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company’s fifty day moving average price is $125.01 and its 200 day moving average price is $131.50.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. As a group, sell-side analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Wedbush reiterated an “outperform” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, February 20th. Rosenblatt Securities restated a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Benchmark reaffirmed a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Morgan Stanley set a $162.00 target price on NVIDIA and gave the stock an “overweight” rating in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $171.51.

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.