Advisors Asset Management Inc. Raises Position in NVIDIA Co. (NASDAQ:NVDA)

Advisors Asset Management Inc. lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 190,478 shares of the computer hardware maker’s stock after acquiring an additional 10,002 shares during the period. NVIDIA accounts for about 0.5% of Advisors Asset Management Inc.’s investment portfolio, making the stock its 27th largest holding. Advisors Asset Management Inc.’s holdings in NVIDIA were worth $25,579,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVDA. Tacita Capital Inc purchased a new stake in NVIDIA in the 4th quarter valued at about $28,000. Legend Financial Advisors Inc. acquired a new stake in shares of NVIDIA in the fourth quarter worth approximately $34,000. Vision Financial Markets LLC purchased a new stake in NVIDIA in the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC acquired a new position in NVIDIA during the fourth quarter worth approximately $40,000. Finally, Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the fourth quarter worth approximately $46,000. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on NVDA shares. Rosenblatt Securities lowered their price objective on shares of NVIDIA from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. William Blair reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. UBS Group cut their price objective on NVIDIA from $185.00 to $180.00 and set a “buy” rating on the stock in a report on Thursday, April 17th. KeyCorp set a $190.00 target price on NVIDIA in a report on Wednesday, March 19th. Finally, Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the stock an “overweight” rating in a research report on Wednesday, March 19th. Six research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $165.01.

NVIDIA Stock Up 2.0 %

Shares of NVIDIA stock opened at $98.89 on Wednesday. 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 business has a 50-day moving average price of $115.15 and a 200 day moving average price of $129.50. NVIDIA Co. has a fifty-two week low of $78.22 and a fifty-two week high of $195.95. The firm has a market cap of $2.41 trillion, a P/E ratio of 38.92, a P/E/G ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last posted 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 business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, sell-side analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the sale, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction 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. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 in the last quarter. Insiders own 4.23% of the company’s stock.

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.