RiverFront Investment Group LLC Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)

RiverFront Investment Group LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 18.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 722,616 shares of the computer hardware maker's stock after buying an additional 112,221 shares during the period. NVIDIA comprises about 2.2% of RiverFront Investment Group LLC's investment portfolio, making the stock its 16th biggest position. RiverFront Investment Group LLC's holdings in NVIDIA were worth $97,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analysts Set New Price Targets

NVDA has been the subject of several research analyst reports. Citigroup reiterated a "buy" rating on shares of NVIDIA in a report on Wednesday, April 16th. Needham & Company LLC restated a "buy" rating and issued a $160.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Hsbc Global Res lowered shares of NVIDIA from a "strong-buy" rating to a "hold" rating in a research note on Thursday, April 3rd. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, Truist Financial lifted their price objective on NVIDIA from $204.00 to $205.00 and gave the company a "buy" rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and a consensus price target of $164.96.

NVIDIA Stock Up 2.6 %

NVIDIA stock traded up $2.89 during midday trading on Friday, hitting $114.50. 189,662,858 shares of the company's stock were exchanged, compared to its average volume of 300,818,875. The company has a market cap of $2.79 trillion, a PE ratio of 45.06, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 12 month low of $86.62 and a 12 month high of $195.95. 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 firm has a 50-day moving average of $110.85 and a two-hundred day moving average of $128.19.

NVIDIA (NASDAQ:NVDA - Get Free Report) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate 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 return on equity of 114.83% and a net margin of 55.69%. As a group, analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is 1.36%.

Insider Activity

In other news, Director John Dabiri sold 2,663 shares of the firm'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 value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Aarti S. Shah sold 20,000 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the sale, the director now owns 53,208 shares of the company's stock, valued at $6,300,891.36. The trade was a 27.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock valued at $17,133,207 in the last three months. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Company 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.