Zullo Investment Group Inc. Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Zullo Investment Group Inc. raised its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.2% in the fourth quarter, HoldingsChannel reports. The firm owned 139,685 shares of the computer hardware maker’s stock after acquiring an additional 248 shares during the period. NVIDIA comprises about 7.6% of Zullo Investment Group Inc.’s investment portfolio, making the stock its 2nd largest holding. Zullo Investment Group Inc.’s holdings in NVIDIA were worth $18,758,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in NVIDIA by 2.2% in the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after acquiring an additional 11,525,969 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of NVIDIA by 3.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock valued at $21,908,236,000 after purchasing an additional 6,526,200 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of NVIDIA by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock worth $17,738,630,000 after purchasing an additional 2,042,348 shares during the period. Fisher Asset Management LLC lifted its position in shares of NVIDIA by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker’s stock worth $11,745,763,000 after purchasing an additional 3,283,380 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of NVIDIA by 0.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 63,615,639 shares of the computer hardware maker’s stock valued at $8,542,944,000 after purchasing an additional 186,761 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of NVIDIA stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the sale, the director now owns 53,208 shares of the company’s stock, valued at $6,300,891.36. The trade was a 27.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This trade represents a 0.93 % 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 worth $22,642,615. 4.23% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of analyst reports. Rosenblatt Securities restated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. HSBC cut their target price on NVIDIA from $195.00 to $185.00 and set a “buy” rating on the stock in a research note on Monday, January 13th. Truist Financial boosted their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Summit Insights cut NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Stock Performance

NVDA opened at $120.69 on Wednesday. The company has a market cap of $2.94 trillion, a price-to-earnings ratio of 47.50, a PEG ratio of 1.76 and a beta of 1.77. The firm’s fifty day simple moving average is $126.46 and its two-hundred day simple moving average is $131.58. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $153.13.

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

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders 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 dividend yield of 0.03%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

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.