Sheets Smith Investment Management Buys Shares of 22,508 NVIDIA Co. (NASDAQ:NVDA)

Sheets Smith Investment Management purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 22,508 shares of the computer hardware maker’s stock, valued at approximately $3,023,000. NVIDIA makes up approximately 2.6% of Sheets Smith Investment Management’s holdings, making the stock its 9th biggest position.

Other hedge funds have also made changes to their positions in the company. Jackson Thornton Wealth Management LLC raised its stake in shares of NVIDIA by 99.3% in the 4th quarter. Jackson Thornton Wealth Management LLC now owns 20,305 shares of the computer hardware maker’s stock valued at $2,727,000 after purchasing an additional 10,117 shares in the last quarter. Clune & Associates LTD. bought a new stake in NVIDIA in the fourth quarter valued at about $3,955,000. Mountain Hill Investment Partners Corp. acquired a new stake in NVIDIA during the fourth quarter valued at approximately $846,000. McCollum Christoferson Group LLC raised its stake in NVIDIA by 2.1% during the fourth quarter. McCollum Christoferson Group LLC now owns 15,218 shares of the computer hardware maker’s stock valued at $2,044,000 after buying an additional 318 shares in the last quarter. Finally, Crowley Wealth Management Inc. acquired a new position in shares of NVIDIA in the 4th quarter worth approximately $581,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Up 4.3 %

NASDAQ NVDA opened at $111.01 on Monday. NVIDIA Co. has a 12 month low of $81.25 and a 12 month high of $195.95. The company’s 50 day simple moving average is $113.21 and its 200 day simple moving average is $128.95. The company has a market capitalization of $2.71 trillion, a P/E ratio of 43.69, a PEG ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Equities research analysts expect 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 was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is 1.36%.

Insider Buying and Selling at NVIDIA

In other news, Director Aarti S. Shah sold 20,000 shares of the business’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. The trade was a 27.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NVDA has been the topic of several research analyst reports. Rosenblatt Securities reduced their price objective on NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Truist Financial raised their price target on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Mizuho lowered their price objective on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, William Blair restated an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Six analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.96.

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.