NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by RiverFront Investment Group LLC

RiverFront Investment Group LLC grew its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 18.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 722,616 shares of the computer hardware maker’s stock after purchasing an additional 112,221 shares during the period. NVIDIA comprises about 2.2% of RiverFront Investment Group LLC’s portfolio, making the stock its 16th biggest position. RiverFront Investment Group LLC’s holdings in NVIDIA were worth $97,040,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. DiNuzzo Private Wealth Inc. grew its position in NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock worth $1,157,000 after purchasing an additional 71 shares during the last quarter. Palisade Asset Management LLC grew its stake in NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after buying an additional 75 shares during the last quarter. Baker Boyer National Bank grew its holdings in shares of NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock worth $323,000 after purchasing an additional 76 shares during the last quarter. Kwmg LLC lifted its position in shares of NVIDIA by 0.6% during the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock worth $1,755,000 after purchasing an additional 77 shares in the last quarter. Finally, SC&H Financial Advisors Inc. lifted its stake in shares of NVIDIA by 1.6% during the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker’s stock valued at $681,000 after acquiring an additional 80 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Hsbc Global Res cut NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Morgan Stanley lowered their price target on shares of NVIDIA from $162.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. William Blair reissued an “outperform” rating on shares of NVIDIA in a research report on Thursday, March 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. Finally, Tigress Financial reissued a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $164.96.

NVIDIA Stock Performance

Shares of NVDA opened at $111.61 on Friday. The firm’s fifty day simple moving average is $111.09 and its two-hundred day simple moving average is $128.31. NVIDIA Co. has a 12 month low of $83.20 and a 12 month high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.72 trillion, a P/E ratio of 43.92, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. As a group, analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

Insiders Place Their Bets

In other news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Aarti S. Shah sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the transaction, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is currently 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.