Addenda Capital Inc. Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Addenda Capital Inc. increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 121.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 143,891 shares of the computer hardware maker’s stock after acquiring an additional 78,944 shares during the quarter. Addenda Capital Inc.’s holdings in NVIDIA were worth $15,642,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Hickory Point Bank & Trust purchased a new stake in NVIDIA in the fourth quarter worth about $2,272,000. BTC Capital Management Inc. boosted its holdings in shares of NVIDIA by 2.3% in the 1st quarter. BTC Capital Management Inc. now owns 330,176 shares of the computer hardware maker’s stock valued at $35,785,000 after buying an additional 7,476 shares in the last quarter. Capital Performance Advisors LLP boosted its holdings in shares of NVIDIA by 59.3% in the 4th 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 in the last quarter. Waddell & Associates LLC boosted its holdings in shares of NVIDIA by 1.2% in the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock valued at $3,240,000 after buying an additional 297 shares in the last quarter. Finally, Strategy Asset Managers LLC boosted its holdings in shares of NVIDIA by 0.8% in the 4th quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock valued at $7,024,000 after buying an additional 405 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This trade represents a 0.93% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Mark A. Stevens sold 190,000 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $142.51, for a total transaction of $27,076,900.00. Following the sale, the director now directly owns 8,855,848 shares in the company, valued at $1,262,046,898.48. The trade was a 2.10% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,560,845 shares of company stock valued at $360,351,849 in the last 90 days. 4.17% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on NVDA shares. Bank of America raised their price target on shares of NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Mizuho raised their price target on shares of NVIDIA from $168.00 to $170.00 and gave the company an “outperform” rating in a report on Thursday, May 29th. Raymond James raised their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a “strong-buy” rating in a report on Thursday, May 29th. HSBC cut shares of NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a report on Thursday, April 3rd. Finally, Wedbush restated an “outperform” rating on shares of NVIDIA in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-five have given a buy rating and three have given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $172.24.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $142.83 on Thursday. The stock has a market capitalization of $3.49 trillion, a price-to-earnings ratio of 56.21, a PEG ratio of 1.76 and a beta of 2.12. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $153.13. The firm’s 50 day simple moving average is $120.91 and its 200-day simple moving average is $126.34. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The firm had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.61 EPS. Analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 11th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.29%.

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.