RiverFront Investment Group LLC Acquires 112,221 Shares of NVIDIA Co. (NASDAQ:NVDA)

RiverFront Investment Group LLC lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 18.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 722,616 shares of the computer hardware maker's stock after purchasing an additional 112,221 shares during the quarter. NVIDIA accounts for approximately 2.2% of RiverFront Investment Group LLC's portfolio, making the stock its 16th largest position. RiverFront Investment Group LLC's holdings in NVIDIA were worth $97,040,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SOA Wealth Advisors LLC. raised its position in NVIDIA by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock worth $14,650,000 after purchasing an additional 350 shares during the period. Swedbank AB boosted its stake in shares of NVIDIA by 4.8% during the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker's stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares during the period. Principal Financial Group Inc. grew its holdings in shares of NVIDIA by 3.7% in the third quarter. Principal Financial Group Inc. now owns 35,627,274 shares of the computer hardware maker's stock worth $4,326,576,000 after purchasing an additional 1,285,897 shares during the last quarter. Seelaus Asset Management LLC increased its stake in shares of NVIDIA by 4.1% in the third quarter. Seelaus Asset Management LLC now owns 9,985 shares of the computer hardware maker's stock worth $1,213,000 after buying an additional 395 shares during the period. Finally, Meridian Investment Counsel Inc. boosted its position in NVIDIA by 0.9% during the 3rd quarter. Meridian Investment Counsel Inc. now owns 17,615 shares of the computer hardware maker's stock valued at $2,139,000 after buying an additional 160 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on NVDA. Tigress Financial restated a "buy" rating on shares of NVIDIA in a report on Wednesday, February 26th. Citigroup reissued a "buy" rating on shares of NVIDIA in a research report on Wednesday, April 16th. TD Cowen reduced their price target on shares of NVIDIA from $175.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Raymond James restated a "strong-buy" rating on shares of NVIDIA in a report on Wednesday, April 16th. Finally, William Blair reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, thirty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has a consensus rating of "Moderate Buy" and a consensus price target of $164.96.

NVIDIA Stock Performance

NVDA stock traded down $0.94 during trading on Monday, reaching $113.56. 26,003,883 shares of the stock were exchanged, compared to its average volume of 287,381,969. NVIDIA Co. has a twelve month low of $86.62 and a twelve month high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2.77 trillion, a P/E ratio of 44.69, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. The stock has a 50 day simple moving average of $110.85 and a 200-day simple moving average of $128.08.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS 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 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, sell-side analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the stock in a transaction 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 directly owns 17,279 shares in the company, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $7,787,887.80. Following the sale, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at approximately $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 4.23% of the company's stock.

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.