CGN Advisors LLC Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

CGN Advisors LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 75,420 shares of the computer hardware maker’s stock after acquiring an additional 4,340 shares during the period. NVIDIA accounts for about 1.0% of CGN Advisors LLC’s holdings, making the stock its 23rd biggest holding. CGN Advisors LLC’s holdings in NVIDIA were worth $10,128,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in NVDA. University of Texas Texas AM Investment Management Co. raised its stake in NVIDIA by 897.5% in the 2nd quarter. University of Texas Texas AM Investment Management Co. now owns 119,110 shares of the computer hardware maker’s stock valued at $14,715,000 after purchasing an additional 107,169 shares during the last quarter. Westwood Holdings Group Inc. raised its position in shares of NVIDIA by 683.9% in the second quarter. Westwood Holdings Group Inc. now owns 238,829 shares of the computer hardware maker’s stock valued at $29,505,000 after buying an additional 208,362 shares during the last quarter. Palisade Asset Management LLC lifted 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 worth $1,866,000 after buying an additional 75 shares in the last quarter. Blue Square Asset Management LLC boosted its position in NVIDIA by 26.7% during the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after acquiring an additional 10,136 shares during the last quarter. Finally, Narwhal Capital Management grew its stake in NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock valued at $66,267,000 after acquiring an additional 26,373 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on NVDA. Wells Fargo & Company raised their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Raymond James lifted their price objective on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research report on Thursday, November 14th. Loop Capital restated a “buy” rating and issued a $175.00 target price on shares of NVIDIA in a report on Wednesday, November 20th. Deutsche Bank Aktiengesellschaft lifted their price target on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Finally, Susquehanna upped their price objective on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Four research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $166.23.

Insider Buying and Selling

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the completion of the transaction, the chief financial officer now owns 3,351,572 shares of the company’s stock, valued at approximately $453,802,848.80. The trade was a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. 4.23% of the stock is owned by insiders.

NVIDIA Stock Up 3.1 %

Shares of NVIDIA stock opened at $128.68 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. NVIDIA Co. has a 52-week low of $66.25 and a 52-week high of $153.13. The company has a market capitalization of $3.15 trillion, a P/E ratio of 50.64, a P/E/G ratio of 2.16 and a beta of 1.62. The company has a 50 day moving average of $135.62 and a 200 day moving average of $129.35.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) 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 business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the company earned $0.38 EPS. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th 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 Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) is presently 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.