Red Wave Investments LLC Acquires 2,132 Shares of NVIDIA Co. (NASDAQ:NVDA)

Red Wave Investments LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 78.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,842 shares of the computer hardware maker’s stock after buying an additional 2,132 shares during the quarter. NVIDIA comprises 0.9% of Red Wave Investments LLC’s portfolio, making the stock its 26th largest holding. Red Wave Investments LLC’s holdings in NVIDIA were worth $2,398,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. Moody Lynn & Lieberson LLC grew its position in NVIDIA by 7.2% in the third quarter. Moody Lynn & Lieberson LLC now owns 89,053 shares of the computer hardware maker’s stock worth $38,737,000 after acquiring an additional 5,998 shares in the last quarter. TrueMark Investments LLC bought a new stake in shares of NVIDIA in the 4th quarter valued at approximately $2,639,000. McLean Asset Management Corp boosted its holdings in shares of NVIDIA by 11.7% in the 4th quarter. McLean Asset Management Corp now owns 1,773 shares of the computer hardware maker’s stock worth $871,000 after purchasing an additional 186 shares during the period. Cornercap Investment Counsel Inc. increased its position in shares of NVIDIA by 5.7% during the 4th quarter. Cornercap Investment Counsel Inc. now owns 3,900 shares of the computer hardware maker’s stock valued at $1,931,000 after purchasing an additional 209 shares during the last quarter. Finally, Shilanski & Associates Inc. raised its holdings in NVIDIA by 15.9% during the 4th quarter. Shilanski & Associates Inc. now owns 2,983 shares of the computer hardware maker’s stock valued at $1,477,000 after buying an additional 410 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NVDA. Wedbush reissued an “outperform” rating and issued a $1,000.00 target price on shares of NVIDIA in a research note on Tuesday, March 19th. Cantor Fitzgerald reissued an “overweight” rating and issued a $900.00 price objective on shares of NVIDIA in a research note on Monday, March 4th. Loop Capital started coverage on NVIDIA in a research note on Friday, February 16th. They set a “buy” rating and a $1,200.00 target price on the stock. Truist Financial increased their price target on NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on NVIDIA from $720.00 to $850.00 and gave the company a “hold” rating in a report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $944.05.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Mark A. Stevens sold 10,000 shares of the company’s 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 sale, the director now owns 1,124,583 shares in the company, valued at $896,933,663.31. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 22,700 shares of the firm’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 transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,278 shares of company stock worth $52,689,898. Company insiders own 3.99% of the company’s stock.

NVIDIA Stock Down 1.7 %

Shares of NVDA stock opened at $905.54 on Wednesday. The stock’s fifty day moving average price is $872.36 and its 200 day moving average price is $659.34. NVIDIA Co. has a 1-year low of $280.46 and a 1-year high of $974.00. The company has a market cap of $2.26 trillion, a price-to-earnings ratio of 75.84, a price-to-earnings-growth ratio of 1.27 and a beta of 1.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data 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 firm had revenue of $22.10 billion for the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 earnings per share. On average, research analysts expect 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. Shareholders of record on Wednesday, March 6th were issued a $0.04 dividend. 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 dividend payout ratio is currently 1.34%.

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.