Ascent Group LLC Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Ascent Group LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 19.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,097 shares of the computer hardware maker’s stock after buying an additional 835 shares during the period. Ascent Group LLC’s holdings in NVIDIA were worth $688,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Capstone Financial Advisors Inc. increased its holdings in NVIDIA by 13.1% in the third quarter. Capstone Financial Advisors Inc. now owns 4,778 shares of the computer hardware maker’s stock valued at $580,000 after buying an additional 555 shares in the last quarter. Carlson Capital Management increased its holdings in NVIDIA by 39.5% in the third quarter. Carlson Capital Management now owns 2,841 shares of the computer hardware maker’s stock valued at $345,000 after buying an additional 804 shares in the last quarter. Clearstead Advisors LLC increased its holdings in NVIDIA by 5.5% in the third quarter. Clearstead Advisors LLC now owns 9,139 shares of the computer hardware maker’s stock valued at $1,109,000 after buying an additional 474 shares in the last quarter. Covington Capital Management increased its holdings in NVIDIA by 0.6% in the third quarter. Covington Capital Management now owns 45,451 shares of the computer hardware maker’s stock valued at $5,517,000 after buying an additional 255 shares in the last quarter. Finally, CreativeOne Wealth LLC increased its holdings in NVIDIA by 15.4% in the third quarter. CreativeOne Wealth LLC now owns 20,632 shares of the computer hardware maker’s stock valued at $2,505,000 after buying an additional 2,756 shares in the last quarter. 61.80% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NVDA shares. Jefferies Financial Group raised their price objective on shares of NVIDIA from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Stifel Nicolaus raised their price objective on shares of NVIDIA from $175.00 to $207.00 and gave the stock a “hold” rating in a research note on Tuesday, February 21st. Mizuho raised their price objective on shares of NVIDIA from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Tigress Financial dropped their price objective on shares of NVIDIA from $310.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, December 8th. Finally, Needham & Company LLC raised their price objective on shares of NVIDIA from $230.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, February 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and a consensus target price of $242.14.

Insider Buying and Selling

In related news, Director Mark L. Perry sold 20,000 shares of NVIDIA stock in a transaction on Monday, February 27th. The shares were sold at an average price of $236.37, for a total transaction of $4,727,400.00. Following the sale, the director now owns 140,000 shares of the company’s stock, valued at approximately $33,091,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Donald F. Robertson, Jr. sold 2,494 shares of the business’s stock in a transaction dated Thursday, December 15th. The shares were sold at an average price of $167.89, for a total value of $418,717.66. Following the completion of the sale, the insider now owns 56,617 shares of the company’s stock, valued at approximately $9,505,428.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark L. Perry sold 20,000 shares of the business’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $236.37, for a total transaction of $4,727,400.00. Following the completion of the sale, the director now directly owns 140,000 shares of the company’s stock, valued at approximately $33,091,800. The disclosure for this sale can be found here. Insiders have sold 295,560 shares of company stock valued at $51,648,397 in the last quarter. Company insiders own 4.04% of the company’s stock.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $240.63 on Wednesday. The company has a current ratio of 3.52, a quick ratio of 2.73 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $594.36 billion, a price-to-earnings ratio of 138.29, a PEG ratio of 4.08 and a beta of 1.76. The firm’s fifty day simple moving average is $204.52 and its 200 day simple moving average is $165.06. NVIDIA Co. has a twelve month low of $108.13 and a twelve month high of $289.46.

NVIDIA (NASDAQ:NVDA – Get Rating) last posted its earnings results on Wednesday, February 22nd. The computer hardware maker reported $0.88 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.07. NVIDIA had a net margin of 16.19% and a return on equity of 26.61%. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $6.02 billion. During the same quarter in the previous year, the business posted $1.14 EPS. The business’s quarterly revenue was down 20.8% on a year-over-year basis. As a group, equities research analysts expect that NVIDIA Co. will post 3.21 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, March 29th. Investors of record on Wednesday, March 8th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.07%. The ex-dividend date of this dividend is Tuesday, March 7th. NVIDIA’s dividend payout ratio (DPR) is 9.20%.

About NVIDIA

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.