NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Chase Investment Counsel Corp

Chase Investment Counsel Corp raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 17.3% during the 4th quarter, HoldingsChannel reports. The firm owned 17,827 shares of the computer hardware maker’s stock after purchasing an additional 2,629 shares during the quarter. NVIDIA comprises 3.9% of Chase Investment Counsel Corp’s holdings, making the stock its 2nd biggest position. Chase Investment Counsel Corp’s holdings in NVIDIA were worth $8,828,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC raised its holdings in NVIDIA by 54,019.5% in the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after acquiring an additional 16,835,703 shares during the period. Vanguard Group Inc. grew its position in shares of 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. California Public Employees Retirement System increased its stake in shares of 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 worth $3,702,951,000 after purchasing an additional 1,805,763 shares during the period. J.P. Morgan Private Wealth Advisors LLC acquired a new position in shares of NVIDIA during the 3rd quarter worth about $728,543,000. Finally, Assenagon Asset Management S.A. boosted its stake in NVIDIA by 99.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,384,968 shares of the computer hardware maker’s stock valued at $1,037,437,000 after purchasing an additional 1,189,495 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on NVDA shares. Evercore ISI began coverage on NVIDIA in a research report on Tuesday, April 16th. They issued an “outperform” rating and a $1,160.00 price objective for the company. Mizuho raised their price target on shares of NVIDIA from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. Morgan Stanley boosted their price objective on shares of NVIDIA from $795.00 to $1,000.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Wedbush reaffirmed an “outperform” rating and set a $1,000.00 price objective on shares of NVIDIA in a research report on Tuesday, March 19th. Finally, Citigroup lifted their target price on NVIDIA from $820.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $944.05.

NVIDIA Stock Down 1.7 %

Shares of NASDAQ:NVDA opened at $905.54 on Wednesday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The firm has a market cap of $2.26 trillion, a P/E ratio of 75.84, a P/E/G 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 company’s 50-day moving average price is $872.36 and its two-hundred day moving average price is $659.34.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the prior year, the firm earned $0.65 earnings per share. NVIDIA’s revenue was up 265.3% compared to the same quarter last year. As a group, research analysts forecast that NVIDIA Co. will post 22.55 EPS for the current fiscal year.

NVIDIA Announces Dividend

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 of this dividend 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 Activity

In related news, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction dated 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 directly owns 1,124,583 shares in the company, valued at $896,933,663.31. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following 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 over the last 90 days. 3.99% of the stock is owned by company 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.