NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Gradient Investments LLC

Gradient Investments LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 23.0% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 802,376 shares of the computer hardware maker’s stock after purchasing an additional 149,784 shares during the period. NVIDIA accounts for about 1.8% of Gradient Investments LLC’s investment portfolio, making the stock its 8th biggest holding. Gradient Investments LLC’s holdings in NVIDIA were worth $86,962,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of NVDA. Norges Bank acquired a new position in NVIDIA in the fourth quarter worth about $43,515,504,000. GAMMA Investing LLC boosted its stake in NVIDIA by 12,173.2% in the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock valued at $5,293,039,000 after acquiring an additional 48,439,859 shares during the period. Northern Trust Corp boosted its stake in NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares during the period. Proficio Capital Partners LLC boosted its stake in NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after acquiring an additional 34,441,082 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in NVIDIA in the fourth quarter valued at approximately $2,987,733,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Summit Insights upgraded NVIDIA from a “hold” rating to a “buy” rating in a research note on Thursday, May 29th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 28th. Needham & Company LLC restated a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a research note on Thursday, May 29th. Raymond James boosted their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a research report on Thursday, May 29th. Finally, Tigress Financial restated a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-five have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $172.24.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $145.00 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. The stock has a market capitalization of $3.54 trillion, a price-to-earnings ratio of 57.06, a PEG ratio of 1.76 and a beta of 2.12. The stock’s fifty day simple moving average is $121.86 and its 200 day simple moving average is $126.41. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion during 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%. The business’s revenue was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. As a group, sell-side analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’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 owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This trade represents a 0.93% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director now directly owns 26,671,360 shares of the company’s stock, valued at approximately $3,808,670,208. This trade represents a 3.61% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,560,845 shares of company stock worth $360,351,849 in the last three months. 4.17% of the stock is currently owned by insiders.

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.