Floyd Financial Group LLC Takes $7.44 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Floyd Financial Group LLC acquired a new position in NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 54,763 shares of the computer hardware maker’s stock, valued at approximately $7,443,000. NVIDIA comprises about 6.1% of Floyd Financial Group LLC’s investment portfolio, making the stock its 3rd largest holding.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ironwood Wealth Management LLC. boosted its position in shares of NVIDIA by 896.9% during the second quarter. Ironwood Wealth Management LLC. now owns 6,330 shares of the computer hardware maker’s stock valued at $782,000 after buying an additional 5,695 shares during the last quarter. Financial Guidance Group Inc. lifted its stake in NVIDIA by 900.0% during the 2nd quarter. Financial Guidance Group Inc. now owns 3,600 shares of the computer hardware maker’s stock valued at $445,000 after acquiring an additional 3,240 shares during the period. Tortoise Investment Management LLC lifted its stake in NVIDIA by 858.9% during the 2nd quarter. Tortoise Investment Management LLC now owns 6,770 shares of the computer hardware maker’s stock valued at $836,000 after acquiring an additional 6,064 shares during the period. Generate Investment Management Ltd boosted its holdings in shares of NVIDIA by 945.0% during the 2nd quarter. Generate Investment Management Ltd now owns 585,609 shares of the computer hardware maker’s stock valued at $72,305,000 after acquiring an additional 529,569 shares during the last quarter. Finally, Allegheny Financial Group LTD bought a new stake in shares of NVIDIA in the second quarter worth approximately $835,000. 65.27% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following the sale, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 over the last ninety days. 4.23% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NVDA. Piper Sandler raised their target price on shares of NVIDIA from $140.00 to $175.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Mizuho increased their price target on NVIDIA from $165.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Barclays lifted their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. The Goldman Sachs Group increased their target price on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Morgan Stanley cut their price target on NVIDIA from $166.00 to $152.00 and set an “overweight” rating for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $166.23.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $120.07 on Friday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a market cap of $2.94 trillion, a price-to-earnings ratio of 47.25, a PEG ratio of 2.23 and a beta of 1.64. NVIDIA Co. has a 1 year low of $60.70 and a 1 year high of $153.13. The stock’s 50 day simple moving average is $137.02 and its two-hundred day simple moving average is $129.37.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same quarter in the previous year, the business posted $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. As a group, equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

About NVIDIA

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.