Envestnet Portfolio Solutions Inc. Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Envestnet Portfolio Solutions Inc. boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,195,005 shares of the computer hardware maker’s stock after purchasing an additional 23,415 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in NVIDIA were worth $160,477,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealth Group Ltd. increased its position in NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock valued at $680,000 after buying an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. grew its stake in shares of NVIDIA by 0.3% during the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after acquiring an additional 350 shares during the last quarter. Swedbank AB increased its holdings in shares of NVIDIA by 4.8% during the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after acquiring an additional 1,868,358 shares in the last quarter. Impax Asset Management Group plc raised its position in shares of NVIDIA by 13.2% in the 3rd quarter. Impax Asset Management Group plc now owns 5,501,589 shares of the computer hardware maker’s stock valued at $667,278,000 after purchasing an additional 640,840 shares during the last quarter. Finally, Advisors Management Group Inc. ADV boosted its stake in NVIDIA by 4.8% in the 3rd quarter. Advisors Management Group Inc. ADV now owns 102,152 shares of the computer hardware maker’s stock worth $12,405,000 after purchasing an additional 4,717 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were 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 directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 147,147 shares of company stock worth $17,133,207. Insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NVDA. Citigroup reissued a “buy” rating on shares of NVIDIA in a report on Wednesday. TD Cowen dropped their price target on NVIDIA from $175.00 to $140.00 and set a “buy” rating on the stock in a research note on Wednesday, April 9th. HSBC lowered NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price objective on the stock. in a report on Thursday, April 3rd. Morgan Stanley set a $162.00 target price on NVIDIA and gave the stock an “overweight” rating in a report on Wednesday, March 19th. Finally, Truist Financial increased their price target on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a report on Thursday, February 27th. Six analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $165.51.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $101.33 on Monday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company’s 50-day moving average price is $116.56 and its 200 day moving average price is $129.90. NVIDIA Co. has a 52 week low of $76.40 and a 52 week high of $195.95. The stock has a market cap of $2.47 trillion, a price-to-earnings ratio of 39.88, a PEG ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping 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 business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. As a group, research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

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.