Federated Hermes Inc. Purchases 89,424 Shares of NVIDIA Co. (NASDAQ:NVDA)

Federated Hermes Inc. boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 15.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 658,671 shares of the computer hardware maker’s stock after acquiring an additional 89,424 shares during the quarter. NVIDIA accounts for approximately 0.8% of Federated Hermes Inc.’s portfolio, making the stock its 20th largest holding. Federated Hermes Inc.’s holdings in NVIDIA were worth $326,187,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. LexAurum Advisors LLC boosted its position in NVIDIA by 82.3% during the third quarter. LexAurum Advisors LLC now owns 4,441 shares of the computer hardware maker’s stock valued at $1,932,000 after buying an additional 2,005 shares during the period. LMG Wealth Partners LLC purchased a new stake in NVIDIA during the third quarter valued at about $241,000. Armstrong Henry H Associates Inc. boosted its position in NVIDIA by 12.2% during the third quarter. Armstrong Henry H Associates Inc. now owns 1,375 shares of the computer hardware maker’s stock valued at $598,000 after buying an additional 150 shares during the period. Epic Trust Investment Advisors LLC boosted its position in NVIDIA by 28.8% during the third quarter. Epic Trust Investment Advisors LLC now owns 1,536 shares of the computer hardware maker’s stock valued at $668,000 after buying an additional 343 shares during the period. Finally, First Affirmative Financial Network boosted its position in NVIDIA by 15.9% during the third quarter. First Affirmative Financial Network now owns 3,839 shares of the computer hardware maker’s stock valued at $1,670,000 after buying an additional 527 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on NVDA. UBS Group upped their price target on shares of NVIDIA from $800.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, March 22nd. Piper Sandler Companies raised their target price on NVIDIA to $850.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Tigress Financial raised their target price on NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. TD Cowen raised their target price on NVIDIA from $900.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Thursday, March 21st. Finally, Needham & Company LLC raised their target price on NVIDIA from $600.00 to $850.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $940.30.

NVIDIA Price Performance

NVDA stock opened at $877.35 on Friday. The firm has a 50 day moving average price of $854.40 and a 200-day moving average price of $635.34. NVIDIA Co. has a 52-week low of $266.25 and a 52-week high of $974.00. The firm has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 73.48, a PEG ratio of 1.14 and a beta of 1.73. 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 announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. During the same period in the previous year, the business earned $0.65 EPS. The firm’s revenue for the quarter was up 265.3% on a year-over-year basis. Equities research analysts forecast that NVIDIA Co. will post 22.55 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a $0.04 dividend. 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 payout ratio is currently 1.34%.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the completion of the transaction, the director now directly owns 1,119,583 shares in the company, valued at approximately $896,494,891.42. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at approximately $45,412,350.30. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the sale, the director now owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The disclosure for this sale can be found here. Insiders sold a total of 61,278 shares of company stock worth $52,689,898 in the last three months. Insiders own 3.99% of the company’s stock.

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.