NVIDIA Co. (NASDAQ:NVDA) Shares Acquired by Redwood Investment Management LLC

Redwood Investment Management LLC grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 33.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,588 shares of the computer hardware maker's stock after buying an additional 7,632 shares during the quarter. Redwood Investment Management LLC's holdings in NVIDIA were worth $4,108,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. FMR LLC boosted its holdings in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC lifted its position in NVIDIA by 1.7% in the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after purchasing an additional 9,468,786 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after purchasing an additional 3,721,331 shares during the period. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter valued at approximately $43,515,504,000. Finally, Northern Trust Corp grew its holdings in shares of NVIDIA by 15.8% in the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock worth $35,782,134,000 after purchasing an additional 36,266,817 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on NVDA. Wedbush reissued an "outperform" rating on shares of NVIDIA in a report on Thursday. Rosenblatt Securities increased their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a report on Thursday. Bank of America boosted their price target on NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, May 14th. DA Davidson upped their price target on NVIDIA from $120.00 to $135.00 and gave the company a "neutral" rating in a research report on Thursday. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $160.00 price objective on shares of NVIDIA in a report on Thursday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA currently has an average rating of "Moderate Buy" and a consensus target price of $171.66.

NVIDIA Price Performance

Shares of NVIDIA stock traded down $4.91 during trading on Friday, reaching $134.28. The company's stock had a trading volume of 332,224,842 shares, compared to its average volume of 285,804,787. The business has a 50 day moving average price of $115.20 and a 200-day moving average price of $126.61. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $195.95. The company has a market capitalization of $3.28 trillion, a P/E ratio of 52.85, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. 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 (NASDAQ:NVDA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The company had revenue of $44.06 billion for the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA's revenue was up 69.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.61 earnings per share. As a group, sell-side analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

Insiders Place Their Bets

In other news, Director Robert K. Burgess sold 53,324 shares of the company's stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. This represents a 17.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,660 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the sale, the chief financial officer now directly owns 3,085,765 shares of the company's stock, valued at $360,509,924.95. The trade was a 2.11% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 147,147 shares of company stock valued at $17,133,207. Corporate insiders own 4.17% of the company's stock.

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.