Grantvest Financial Group LLC Buys New Position in NVIDIA Co. (NASDAQ:NVDA)

Grantvest Financial Group LLC acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 6,624 shares of the computer hardware maker's stock, valued at approximately $890,000.

Other hedge funds have also recently bought and sold shares of the company. Clear Street Derivatives LLC bought a new position in shares of NVIDIA in the 3rd quarter valued at $4,589,905,000. Proficio Capital Partners LLC raised its stake in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker's stock worth $4,656,682,000 after acquiring an additional 34,441,082 shares in the last quarter. Amundi lifted its holdings in shares of NVIDIA by 12.9% in the fourth quarter. Amundi now owns 117,036,612 shares of the computer hardware maker's stock worth $16,394,224,000 after acquiring an additional 13,406,054 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker's stock valued at $66,101,133,000 after purchasing an additional 11,525,969 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in NVIDIA during the 4th quarter worth approximately $1,226,371,000. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Up 4.2 %

NVIDIA stock traded up $4.58 during midday trading on Thursday, hitting $113.50. 65,435,564 shares of the stock were exchanged, compared to its average volume of 301,953,937. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The stock has a market capitalization of $2.77 trillion, a price-to-earnings ratio of 44.63, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 52-week low of $81.25 and a 52-week high of $195.95. The business's 50-day moving average price is $111.47 and its 200-day moving average price is $128.49.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. On average, research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.

Insider Transactions at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the business's stock in a transaction 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 in the company, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares of the company's stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. KeyCorp set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Summit Insights cut NVIDIA from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. DA Davidson cut their price target on NVIDIA from $125.00 to $120.00 and set a "neutral" rating on the stock in a research note on Monday, April 14th. William Blair reaffirmed an "outperform" rating on shares of NVIDIA in a research note on Thursday, March 20th. Finally, Bank of America reduced their target price on shares of NVIDIA from $200.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. One research analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $164.96.

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.