Baird Financial Group Inc. Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Baird Financial Group Inc. increased its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,828,410 shares of the computer hardware maker's stock after purchasing an additional 23,643 shares during the period. NVIDIA accounts for about 1.2% of Baird Financial Group Inc.'s portfolio, making the stock its 13th largest position. Baird Financial Group Inc.'s holdings in NVIDIA were worth $648,407,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Tacita Capital Inc purchased a new position in NVIDIA during the fourth quarter valued at $28,000. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA during the 4th quarter worth approximately $34,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the fourth quarter valued at $38,000. Luken Investment Analytics LLC purchased a new position in shares of NVIDIA in the fourth quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the 4th quarter valued at approximately $46,000. Hedge funds and other institutional investors own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. Summit Insights cut shares of NVIDIA from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Truist Financial lifted their price target on NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research note on Thursday, February 27th. Morgan Stanley restated a "hold" rating on shares of NVIDIA in a research report on Friday. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. Finally, Raymond James reissued a "strong-buy" rating on shares of NVIDIA in a research note on Wednesday, April 16th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $167.53.

NVIDIA Price Performance

Shares of NASDAQ:NVDA traded down $0.21 during trading on Wednesday, hitting $135.30. 53,381,882 shares of the company's stock were exchanged, compared to its average volume of 287,633,873. The company has a market cap of $3.31 trillion, a price-to-earnings ratio of 53.26, a PEG ratio of 1.76 and a beta of 2.11. The business's 50-day simple moving average is $114.51 and its 200 day simple moving average is $126.60. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $195.95. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion for the quarter, compared to analysts' expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the transaction, the insider now directly owns 479,428 shares of the company's stock, valued at $55,997,190.40. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock worth $17,133,207 in the last ninety days. 4.17% of the stock is owned by company 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.