Cedrus LLC Acquires 680 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cedrus LLC raised its holdings in NVIDIA Co. (NASDAQ:NVDA) by 98.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,369 shares of the computer hardware maker’s stock after purchasing an additional 680 shares during the quarter. Cedrus LLC’s holdings in NVIDIA were worth $678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in NVIDIA by 1.1% in the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after purchasing an additional 2,287,471 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of NVIDIA by 0.6% during the 1st quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock valued at $12,763,663,000 after buying an additional 267,061 shares during the last quarter. Morgan Stanley lifted its position in shares of NVIDIA by 20.2% during the 4th quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after buying an additional 4,621,002 shares during the last quarter. Norges Bank bought a new position in shares of NVIDIA during the 4th quarter worth $3,900,874,000. Finally, Northern Trust Corp increased its holdings in NVIDIA by 3.6% in the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock worth $11,445,211,000 after acquiring an additional 910,009 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $846.71 on Friday. The stock has a market capitalization of $2.12 trillion, a price-to-earnings ratio of 70.91, a price-to-earnings-growth ratio of 1.26 and a beta of 1.73. The company has a fifty day moving average of $843.90 and a 200-day moving average of $620.05. NVIDIA Co. has a 52-week low of $262.25 and a 52-week high of $974.00. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17.

NVIDIA (NASDAQ:NVDA) last posted its quarterly 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. The business had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company’s revenue was up 265.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.65 earnings per share. Equities research analysts expect that NVIDIA Co. will post 22.45 EPS for the current year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. TD Cowen increased their target price on shares of NVIDIA from $900.00 to $1,100.00 and gave the stock an “outperform” rating in a research report on Thursday, March 21st. DA Davidson raised their price objective on shares of NVIDIA from $410.00 to $620.00 and gave the stock a “neutral” rating in a report on Thursday, February 22nd. Benchmark reissued a “buy” rating and set a $1,000.00 target price on shares of NVIDIA in a report on Wednesday, March 20th. UBS Group raised their price target on NVIDIA from $800.00 to $1,100.00 and gave the stock a “buy” rating in a report on Friday, March 22nd. Finally, Craig Hallum lifted their price target on NVIDIA from $700.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $940.30.

Insiders Place Their Bets

In other 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 completion of the sale, the director now owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director John Dabiri sold 128 shares of the business’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock valued at $52,689,898 in the last ninety days. Company insiders own 3.99% of the company’s stock.

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.