Scotia Capital Inc. Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Scotia Capital Inc. increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,027,847 shares of the computer hardware maker’s stock after purchasing an additional 271,556 shares during the quarter. NVIDIA makes up about 2.1% of Scotia Capital Inc.’s holdings, making the stock its 9th biggest position. Scotia Capital Inc.’s holdings in NVIDIA were worth $406,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hickory Point Bank & Trust bought a new position in NVIDIA in the 4th quarter valued at $2,272,000. Capital Performance Advisors LLP grew its position in NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after buying an additional 9,944 shares during the period. Ethos Financial Group LLC increased its holdings in NVIDIA by 24.1% during the fourth quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock worth $4,312,000 after buying an additional 6,241 shares during the last quarter. Metis Global Partners LLC raised its position in NVIDIA by 3.6% in the fourth quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker’s stock worth $196,711,000 after acquiring an additional 50,978 shares during the period. Finally, Candriam S.C.A. increased its holdings in NVIDIA by 0.5% in the 4th quarter. Candriam S.C.A. now owns 7,061,058 shares of the computer hardware maker’s stock worth $948,229,000 after acquiring an additional 35,684 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on NVDA. Wedbush reaffirmed an “outperform” rating and set a $175.00 price objective on shares of NVIDIA in a report on Wednesday, April 16th. Raymond James restated a “strong-buy” rating on shares of NVIDIA in a research note on Wednesday, April 16th. Summit Insights downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Piper Sandler reiterated an “overweight” rating on shares of NVIDIA in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $164.96.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now directly owns 479,428 shares in the company, valued at $55,997,190.40. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $116.65 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $195.95. The stock has a market cap of $2.85 trillion, a P/E ratio of 45.91, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. The firm’s fifty day simple moving average is $110.29 and its 200 day simple moving average is $127.37.

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

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.36%.

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.