Valley National Advisers Inc. Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Valley National Advisers Inc. increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,822 shares of the computer hardware maker’s stock after buying an additional 239 shares during the period. Valley National Advisers Inc.’s holdings in NVIDIA were worth $1,892,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NVDA. United Bank boosted its stake in NVIDIA by 28.9% in the first quarter. United Bank now owns 7,717 shares of the computer hardware maker’s stock valued at $2,106,000 after acquiring an additional 1,730 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in NVIDIA by 6.8% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 3,904,772 shares of the computer hardware maker’s stock valued at $1,065,457,000 after acquiring an additional 249,045 shares in the last quarter. MAS Advisors LLC boosted its stake in NVIDIA by 42.1% in the first quarter. MAS Advisors LLC now owns 1,967 shares of the computer hardware maker’s stock valued at $545,000 after acquiring an additional 583 shares in the last quarter. Navis Wealth Advisors LLC boosted its stake in NVIDIA by 205.3% in the first quarter. Navis Wealth Advisors LLC now owns 2,900 shares of the computer hardware maker’s stock valued at $791,000 after acquiring an additional 1,950 shares in the last quarter. Finally, Ergoteles LLC acquired a new stake in NVIDIA in the first quarter valued at approximately $929,000. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of NVIDIA from $795.00 to $1,000.00 and gave the company an “overweight” rating in a research note on Wednesday, April 10th. DA Davidson raised their target price on shares of NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Argus lifted their price objective on shares of NVIDIA from $850.00 to $950.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. The Goldman Sachs Group lifted their price objective on shares of NVIDIA from $875.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Finally, Mizuho lifted their price objective on shares of NVIDIA from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Thursday, March 7th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $926.30.

Insider Activity

In other news, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the sale, the director now owns 1,124,583 shares in the company, valued at $896,933,663.31. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares in the company, valued at $45,412,350.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares in the company, valued at $896,933,663.31. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock worth $52,689,898 over the last 90 days. 3.99% of the stock is currently owned by company insiders.

NVIDIA Stock Down 2.5 %

Shares of NASDAQ NVDA opened at $860.01 on Tuesday. The company’s 50-day simple moving average is $834.27 and its 200-day simple moving average is $613.81. NVIDIA Co. has a 52-week low of $262.25 and a 52-week high of $974.00. The firm has a market cap of $2.15 trillion, a price-to-earnings ratio of 72.03, a price-to-earnings-growth ratio of 1.27 and a beta of 1.73. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter last year, the business earned $0.65 earnings per share. The company’s revenue for the quarter was up 265.3% compared to the same quarter last year. Equities analysts predict that NVIDIA Co. will post 22.45 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were given a $0.04 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is 1.34%.

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.