Sequoia Financial Advisors LLC Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Sequoia Financial Advisors LLC lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 204.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 232,847 shares of the computer hardware maker’s stock after buying an additional 156,277 shares during the period. NVIDIA makes up 1.4% of Sequoia Financial Advisors LLC’s portfolio, making the stock its 12th biggest position. Sequoia Financial Advisors LLC’s holdings in NVIDIA were worth $115,311,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NVDA. LFA Lugano Financial Advisors SA bought a new position in NVIDIA in the fourth quarter valued at about $28,000. Peoples Financial Services CORP. bought a new position in NVIDIA in the third quarter valued at about $30,000. Your Advocates Ltd. LLP bought a new position in NVIDIA in the third quarter valued at about $30,000. Quarry LP bought a new position in NVIDIA in the first quarter valued at about $34,000. Finally, Compass Wealth Management LLC bought a new position in NVIDIA in the fourth quarter valued at about $39,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the stock in a transaction that occurred on 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the transaction, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,278 shares of company stock worth $52,689,898. 3.99% of the stock is owned by corporate insiders.

NVIDIA Stock Up 1.6 %

NVIDIA stock opened at $874.15 on Wednesday. The firm has a market cap of $2.19 trillion, a price-to-earnings ratio of 73.21, a price-to-earnings-growth ratio of 1.27 and a beta of 1.73. NVIDIA Co. has a 52 week low of $262.25 and a 52 week high of $974.00. The business’s 50-day moving average price is $838.10 and its 200 day moving average price is $616.90. 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 posted its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. NVIDIA’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same period last year, the company earned $0.65 earnings per share. As a group, sell-side analysts anticipate that NVIDIA Co. will post 22.45 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were given a dividend of $0.04 per share. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio is currently 1.34%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Raymond James increased their target price on NVIDIA from $850.00 to $1,100.00 and gave the company a “strong-buy” rating in a report on Thursday, April 11th. Jefferies Financial Group raised their price objective on NVIDIA from $610.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Benchmark reaffirmed a “buy” rating and issued a $1,000.00 price objective on shares of NVIDIA in a research note on Wednesday, March 20th. Morgan Stanley raised their price objective on NVIDIA from $795.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 10th. Finally, The Goldman Sachs Group raised their price objective on NVIDIA from $875.00 to $1,000.00 and gave the stock a “buy” rating in a research note on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $940.30.

NVIDIA 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.