Advisors Asset Management Inc. Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Advisors Asset Management Inc. increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,476 shares of the computer hardware maker’s stock after purchasing an additional 21,199 shares during the quarter. Advisors Asset Management Inc.’s holdings in NVIDIA were worth $21,917,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Howe & Rusling Inc. increased its position in NVIDIA by 5.9% during the 3rd quarter. Howe & Rusling Inc. now owns 160,620 shares of the computer hardware maker’s stock worth $19,506,000 after purchasing an additional 8,897 shares in the last quarter. Grant Street Asset Management Inc. increased its stake in shares of NVIDIA by 19.6% during the 3rd quarter. Grant Street Asset Management Inc. now owns 3,483 shares of the computer hardware maker’s stock valued at $423,000 after acquiring an additional 572 shares during the last quarter. NS Partners Ltd increased its stake in shares of NVIDIA by 0.3% during the 3rd quarter. NS Partners Ltd now owns 1,526,593 shares of the computer hardware maker’s stock valued at $185,389,000 after acquiring an additional 5,129 shares during the last quarter. Kirtland Hills Capital Management LLC increased its stake in shares of NVIDIA by 11.6% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 29,484 shares of the computer hardware maker’s stock valued at $3,581,000 after acquiring an additional 3,074 shares during the last quarter. Finally, MWA Asset Management increased its stake in shares of NVIDIA by 7.2% during the 3rd quarter. MWA Asset Management now owns 37,136 shares of the computer hardware maker’s stock valued at $4,510,000 after acquiring an additional 2,491 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,670 shares of the company’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the sale, the chief financial officer now directly 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the sale, the director now directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,226,886 shares of company stock valued at $161,499,400. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVIDIA stock opened at $144.47 on Monday. The stock has a market cap of $3.54 trillion, a P/E ratio of 56.86, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a 50 day moving average of $139.57 and a 200-day moving average of $128.15. NVIDIA Co. has a 52 week low of $47.51 and a 52 week high of $152.89.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. On average, analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Investors 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 of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

Wall Street Analyst Weigh In

NVDA has been the subject of a number of research analyst reports. Wells Fargo & Company upped their price objective on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Bank of America reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Rosenblatt Securities reaffirmed a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Monday, November 18th. HSBC upped their price objective on shares of NVIDIA from $145.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Finally, Truist Financial boosted their target price on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $164.15.

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.