Geode Capital Management LLC Increases Holdings in NVIDIA Co. (NASDAQ:NVDA)

Geode Capital Management LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 555,548,278 shares of the computer hardware maker's stock after acquiring an additional 9,468,786 shares during the quarter. NVIDIA accounts for approximately 5.8% of Geode Capital Management LLC's investment portfolio, making the stock its 2nd largest holding. Geode Capital Management LLC owned approximately 2.27% of NVIDIA worth $74,439,273,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Tacita Capital Inc purchased a new position in NVIDIA during the 4th quarter worth $28,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA in the 4th quarter worth approximately $34,000. Vision Financial Markets LLC acquired a new position in NVIDIA during the fourth quarter valued at $38,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA in the fourth quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC purchased a new stake in NVIDIA in the 4th quarter worth approximately $46,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NVIDIA stock traded down $0.15 on Tuesday, reaching $113.67. The stock had a trading volume of 102,763,889 shares, compared to its average volume of 298,991,769. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The business's 50-day moving average price is $110.50 and its two-hundred day moving average price is $127.91. The stock has a market cap of $2.77 trillion, a P/E ratio of 44.76, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, sell-side analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA's payout ratio is 1.36%.

Insiders Place Their Bets

In other news, Director John Dabiri sold 2,663 shares of the business's 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 sale, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the firm's stock in a transaction on Thursday, March 13th. The stock was 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 of the company's stock, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. 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. Insiders own 4.23% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on NVDA. HSBC lowered NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price target for the company. in a research note on Thursday, April 3rd. Barclays lowered their price target on shares of NVIDIA from $175.00 to $155.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Bank of America dropped their target price on NVIDIA from $200.00 to $160.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. DZ Bank upgraded shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a report on Friday, February 28th. Finally, Morgan Stanley reduced their price objective on shares of NVIDIA from $162.00 to $160.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $164.96.

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.