Mitchell Mcleod Pugh & Williams Inc. Acquires 460 Shares of NVIDIA Co. (NASDAQ:NVDA)

Mitchell Mcleod Pugh & Williams Inc. increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,476 shares of the computer hardware maker’s stock after buying an additional 460 shares during the period. NVIDIA comprises approximately 1.1% of Mitchell Mcleod Pugh & Williams Inc.’s investment portfolio, making the stock its 20th biggest holding. Mitchell Mcleod Pugh & Williams Inc.’s holdings in NVIDIA were worth $4,198,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its position in shares of NVIDIA by 54,019.5% during the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after buying an additional 16,835,703 shares during the last quarter. Vanguard Group Inc. lifted its position in NVIDIA by 1.1% during 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 acquiring an additional 2,287,471 shares during the last quarter. California Public Employees Retirement System boosted its stake in NVIDIA by 31.8% in the fourth quarter. California Public Employees Retirement System now owns 7,477,385 shares of the computer hardware maker’s stock valued at $3,702,951,000 after acquiring an additional 1,805,763 shares in the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in NVIDIA in the third quarter worth $728,543,000. Finally, Assenagon Asset Management S.A. increased its position in shares of NVIDIA by 99.5% during the third quarter. Assenagon Asset Management S.A. now owns 2,384,968 shares of the computer hardware maker’s stock worth $1,037,437,000 after purchasing an additional 1,189,495 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft raised their price objective on NVIDIA from $720.00 to $850.00 and gave the stock a “hold” rating in a research report on Wednesday, March 20th. Wedbush reissued an “outperform” rating and issued a $1,000.00 price target on shares of NVIDIA in a report on Tuesday, March 19th. Truist Financial upped their price objective on shares of NVIDIA from $911.00 to $1,177.00 and gave the company a “buy” rating in a report on Monday, March 18th. JPMorgan Chase & Co. lifted their target price on shares of NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $1,100.00 target price on shares of NVIDIA in a research report on Tuesday, February 20th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $944.05.

NVIDIA Stock Down 1.7 %

Shares of NVDA opened at $905.54 on Wednesday. The firm has a market cap of $2.26 trillion, a P/E ratio of 75.84, a PEG ratio of 1.27 and a beta of 1.75. NVIDIA Co. has a 12 month low of $280.46 and a 12 month high of $974.00. The stock’s 50 day moving average is $872.36 and its two-hundred day moving average is $659.34. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The firm had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 EPS. Analysts predict that NVIDIA Co. will post 22.55 earnings per share for the current fiscal 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 paid a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio is presently 1.34%.

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction that occurred 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 transaction, the director now owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Mark A. Stevens sold 22,700 shares of the business’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 transaction of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction 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. In the last three months, insiders have sold 61,278 shares of company stock worth $52,689,898. 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.