Acas LLC Buys New Position in NVIDIA Co. (NASDAQ:NVDA)

Acas LLC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 1,837 shares of the computer hardware maker’s stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Tacita Capital Inc purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $28,000. Legend Financial Advisors Inc. bought a new position in NVIDIA in the 4th quarter valued at $34,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at $38,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA during the 4th quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC bought a new stake in shares of NVIDIA during the 4th quarter worth $46,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Up 3.1 %

Shares of NASDAQ NVDA opened at $110.93 on Friday. The business has a 50-day moving average of $118.95 and a 200-day moving average of $130.36. The firm has a market capitalization of $2.71 trillion, a price-to-earnings ratio of 43.66, a PEG ratio of 1.76 and a beta of 1.96. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $195.95.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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. The business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Sell-side analysts expect 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 was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. The ex-dividend date 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%.

Insiders Place Their Bets

In other news, Director Aarti S. Shah sold 20,000 shares of the business’s stock in a transaction that occurred 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the 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 transaction, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. This represents a 13.35 % 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 over the last 90 days. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NVDA shares. Bank of America restated a “buy” rating and set a $200.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. DA Davidson dropped their price objective on NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. Finally, Benchmark reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $168.39.

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.