Abbrea Capital LLC Has $12.90 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Abbrea Capital LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,054 shares of the computer hardware maker’s stock after buying an additional 545 shares during the period. NVIDIA accounts for 1.9% of Abbrea Capital LLC’s portfolio, making the stock its 15th largest holding. Abbrea Capital LLC’s holdings in NVIDIA were worth $12,902,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Syon Capital LLC raised its position in NVIDIA by 13.3% during the fourth quarter. Syon Capital LLC now owns 24,310 shares of the computer hardware maker’s stock valued at $12,039,000 after acquiring an additional 2,858 shares in the last quarter. NJ State Employees Deferred Compensation Plan raised its position in NVIDIA by 77.5% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 21,300 shares of the computer hardware maker’s stock valued at $10,548,000 after acquiring an additional 9,300 shares in the last quarter. Meritage Portfolio Management raised its position in NVIDIA by 2.3% during the fourth quarter. Meritage Portfolio Management now owns 7,863 shares of the computer hardware maker’s stock valued at $3,894,000 after acquiring an additional 177 shares in the last quarter. Pittenger & Anderson Inc. raised its position in NVIDIA by 4.3% during the fourth quarter. Pittenger & Anderson Inc. now owns 10,918 shares of the computer hardware maker’s stock valued at $5,407,000 after acquiring an additional 449 shares in the last quarter. Finally, Bank of New Hampshire raised its position in NVIDIA by 118.3% during the fourth quarter. Bank of New Hampshire now owns 4,285 shares of the computer hardware maker’s stock valued at $2,122,000 after acquiring an additional 2,322 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on NVDA shares. TD Cowen increased their price target on NVIDIA from $900.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Deutsche Bank Aktiengesellschaft increased their price target on NVIDIA from $720.00 to $850.00 and gave the company a “hold” rating in a report on Wednesday, March 20th. Jefferies Financial Group increased their price target on NVIDIA from $610.00 to $780.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Piper Sandler increased their price target on NVIDIA from $850.00 to $1,050.00 and gave the company an “overweight” rating in a report on Wednesday, March 20th. Finally, Evercore ISI began coverage on NVIDIA in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,160.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, NVIDIA presently has an average rating of “Moderate Buy” and a consensus target price of $941.55.

NVIDIA Price Performance

NVIDIA stock opened at $887.89 on Friday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The firm has a market cap of $2.22 trillion, a P/E ratio of 74.36, a P/E/G ratio of 1.19 and a beta of 1.75. The business’s fifty day moving average is $865.39 and its two-hundred day moving average is $646.31. NVIDIA Co. has a 52 week low of $272.40 and a 52 week high of $974.00.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. The company 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%. The business’s revenue was up 265.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders 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 dividend yield of 0.02%. NVIDIA’s payout ratio is currently 1.34%.

Insider Transactions at NVIDIA

In other news, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the sale, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Mark A. Stevens sold 12,000 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $853.54, for a total transaction of $10,242,480.00. Following the completion of the sale, the director now owns 1,107,583 shares in the company, valued at $945,366,393.82. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The disclosure for this sale can be found here. Insiders 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 owned by insiders.

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.