Waddell & Associates LLC Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Waddell & Associates LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,124 shares of the computer hardware maker’s stock after purchasing an additional 297 shares during the period. NVIDIA accounts for about 0.3% of Waddell & Associates LLC’s holdings, making the stock its 25th biggest holding. Waddell & Associates LLC’s holdings in NVIDIA were worth $3,240,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on NVDA shares. UBS Group reaffirmed a “buy” rating on shares of NVIDIA in a research report on Friday, April 25th. Benchmark reiterated a “buy” rating and set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Raymond James restated a “strong-buy” rating on shares of NVIDIA in a research note on Wednesday, April 16th. Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. Finally, Barclays dropped their target price on shares of NVIDIA from $175.00 to $155.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. One analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $164.96.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $116.65 on Friday. NVIDIA Co. has a 52 week low of $86.62 and a 52 week 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 company’s 50-day moving average price is $110.29 and its two-hundred day moving average price is $127.37. The stock has a market cap of $2.85 trillion, a PE ratio of 45.91, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11.

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

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

Insider Activity

In other news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now owns 251,044 shares in the company, valued at approximately $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 over the last three months. Insiders own 4.23% of the company’s stock.

NVIDIA 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.