Van ECK Associates Corp Buys 317,082 Shares of NVIDIA Co. (NASDAQ:NVDA)

Van ECK Associates Corp raised its position in NVIDIA Co. (NASDAQ:NVDA) by 6.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,325,750 shares of the computer hardware maker’s stock after buying an additional 317,082 shares during the period. NVIDIA accounts for about 4.8% of Van ECK Associates Corp’s holdings, making the stock its largest holding. Van ECK Associates Corp’s holdings in NVIDIA were worth $2,637,418,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Lodestar Private Asset Management LLC lifted its stake in shares of NVIDIA by 1.0% in the fourth quarter. Lodestar Private Asset Management LLC now owns 1,652 shares of the computer hardware maker’s stock worth $818,000 after acquiring an additional 17 shares in the last quarter. Campbell Newman Asset Management Inc. boosted its stake in shares of NVIDIA by 0.6% during the 4th quarter. Campbell Newman Asset Management Inc. now owns 2,991 shares of the computer hardware maker’s stock valued at $1,481,000 after buying an additional 18 shares during the last quarter. Kraft Davis & Associates LLC grew its position in shares of NVIDIA by 0.6% during the fourth quarter. Kraft Davis & Associates LLC now owns 3,048 shares of the computer hardware maker’s stock worth $1,509,000 after buying an additional 18 shares in the last quarter. IAG Wealth Partners LLC increased its stake in shares of NVIDIA by 4.4% in the fourth quarter. IAG Wealth Partners LLC now owns 430 shares of the computer hardware maker’s stock worth $213,000 after buying an additional 18 shares during the last quarter. Finally, Aprio Wealth Management LLC raised its holdings in NVIDIA by 1.8% in the fourth quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock valued at $523,000 after acquiring an additional 19 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Down 0.2 %

NVIDIA stock opened at $904.12 on Thursday. 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 Co. has a fifty-two week low of $280.46 and a fifty-two week high of $974.00. The firm has a fifty day moving average price of $872.36 and a two-hundred day moving average price of $659.34. The firm has a market cap of $2.26 trillion, a price-to-earnings ratio of 75.72, a P/E/G ratio of 1.27 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last released its 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 analyst estimates of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The company’s revenue was up 265.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.65 EPS. As a group, analysts forecast that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were paid 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 yield of 0.02%. NVIDIA’s dividend payout ratio is currently 1.34%.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of NVIDIA 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 transaction, the director now directly owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction dated 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 owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, 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. Insiders have sold a total of 61,278 shares of company stock valued at $52,689,898 over the last quarter. 3.99% of the stock is owned by company insiders.

Analyst Ratings Changes

NVDA has been the subject of several recent analyst reports. Evercore ISI initiated coverage on shares of NVIDIA in a report on Tuesday, April 16th. They set an “outperform” rating and a $1,160.00 price objective for the company. The Goldman Sachs Group boosted their price objective on NVIDIA from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a report on Tuesday. Susquehanna restated a “positive” rating and set a $1,050.00 price objective on shares of NVIDIA in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft lifted their target price on NVIDIA from $720.00 to $850.00 and gave the stock a “hold” rating in a research report on Wednesday, March 20th. Finally, Piper Sandler Companies upped their price target on NVIDIA to $850.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. 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. According to MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average target price of $944.05.

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.