Empirical Asset Management LLC Acquires 699,568 Shares of NVIDIA Co. (NASDAQ:NVDA)

Empirical Asset Management LLC grew its position in NVIDIA Co. (NASDAQ:NVDA) by 1,398.8% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 749,580 shares of the computer hardware maker’s stock after acquiring an additional 699,568 shares during the period. NVIDIA comprises approximately 2.9% of Empirical Asset Management LLC’s portfolio, making the stock its 8th largest position. Empirical Asset Management LLC’s holdings in NVIDIA were worth $100,661,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of NVDA. Quest Partners LLC acquired a new stake in shares of NVIDIA in the second quarter valued at about $27,000. Christopher J. Hasenberg Inc bought a new stake in shares of NVIDIA in the third quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA during the second quarter worth about $31,000. Legend Financial Advisors Inc. bought a new stake in shares of NVIDIA during the 4th quarter valued at $34,000. Finally, West Financial Advisors LLC acquired a new stake in shares of NVIDIA during the 3rd quarter worth approximately $36,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on NVDA. TD Cowen lifted their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Citigroup boosted their price target on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Melius Research raised their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. Robert W. Baird boosted their price target on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Benchmark restated a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research note on Tuesday, January 7th. 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 MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus target price of $166.23.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares of the company’s stock, valued at approximately $65,056,016.72. This represents a 0.93 % 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 valued at $146,506,958 over the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NASDAQ NVDA opened at $118.65 on Wednesday. The stock has a market capitalization of $2.91 trillion, a price-to-earnings ratio of 46.69, a PEG ratio of 2.16 and a beta of 1.62. NVIDIA Co. has a 12-month low of $66.25 and a 12-month high of $153.13. The business’s 50 day moving average is $136.19 and its two-hundred day moving average is $129.38. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

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 analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $33.15 billion. During the same period last year, the firm earned $0.38 EPS. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. Research analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

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

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.