Bank of Nova Scotia Trust Co. Has $1.41 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Bank of Nova Scotia Trust Co. grew its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 10,512 shares of the computer hardware maker’s stock after purchasing an additional 431 shares during the period. Bank of Nova Scotia Trust Co.’s holdings in NVIDIA were worth $1,412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. FMR LLC raised its holdings in shares of NVIDIA by 0.7% in the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock valued at $134,877,735,000 after purchasing an additional 6,665,252 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock valued at $74,439,273,000 after buying an additional 9,468,786 shares in the last quarter. Norges Bank bought a new position in shares of NVIDIA in the fourth quarter valued at $43,515,504,000. Charles Schwab Investment Management Inc. grew its stake in shares of NVIDIA by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 151,280,130 shares of the computer hardware maker’s stock valued at $20,315,409,000 after buying an additional 5,211,040 shares in the last quarter. Finally, Capital World Investors grew its stake in shares of NVIDIA by 6.5% in the fourth quarter. Capital World Investors now owns 140,921,614 shares of the computer hardware maker’s stock valued at $18,925,009,000 after buying an additional 8,555,411 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVDA stock opened at $135.40 on Friday. The company has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.29, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 52 week low of $86.62 and a 52 week high of $195.95. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a 50 day moving average of $112.33 and a 200-day moving average of $127.06.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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. 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%. On average, equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is 1.36%.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 2,663 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction on 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 transaction, the director now owns 251,044 shares in the company, valued at approximately $28,993,071.56. This represents a 17.52% 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 in the last quarter. 4.23% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on NVDA shares. Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a report on Wednesday, April 30th. Wedbush reissued an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a report on Wednesday, April 16th. Piper Sandler reaffirmed an “overweight” rating on shares of NVIDIA in a research note on Friday, April 25th. Finally, Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research note on Wednesday, February 26th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.84.

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.