Scotia Capital Inc. Acquires 271,556 Shares of NVIDIA Co. (NASDAQ:NVDA)

Scotia Capital Inc. raised its holdings in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,027,847 shares of the computer hardware maker's stock after acquiring an additional 271,556 shares during the period. NVIDIA makes up approximately 2.1% of Scotia Capital Inc.'s investment portfolio, making the stock its 9th largest position. Scotia Capital Inc.'s holdings in NVIDIA were worth $406,619,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Hickory Point Bank & Trust purchased a new stake in shares of NVIDIA in the fourth quarter valued at about $2,272,000. Capital Performance Advisors LLP grew its stake in shares of NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker's stock valued at $3,586,000 after buying an additional 9,944 shares during the period. Waddell & Associates LLC increased its holdings in shares of NVIDIA by 1.2% during the 4th quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker's stock worth $3,240,000 after buying an additional 297 shares during the last quarter. Ethos Financial Group LLC raised its position in shares of NVIDIA by 24.1% during the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker's stock valued at $4,312,000 after buying an additional 6,241 shares during the period. Finally, Metis Global Partners LLC lifted its holdings in NVIDIA by 3.6% in the fourth quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker's stock valued at $196,711,000 after acquiring an additional 50,978 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have commented on NVDA. TD Cowen reduced their target price on NVIDIA from $175.00 to $140.00 and set a "buy" rating on the stock in a research report on Wednesday, April 9th. Bank of America decreased their target price on shares of NVIDIA from $200.00 to $160.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Raymond James reissued a "strong-buy" rating on shares of NVIDIA in a research note on Wednesday, April 16th. Wedbush reaffirmed an "outperform" rating and set a $175.00 price objective on shares of NVIDIA in a research report on Wednesday, April 16th. Finally, Tigress Financial reissued a "buy" rating on shares of NVIDIA in a research report on Wednesday, February 26th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $164.96.

NVIDIA Price Performance

Shares of NASDAQ NVDA traded down $0.72 during trading on Friday, hitting $116.65. 132,620,250 shares of the company were exchanged, compared to its average volume of 296,482,821. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $195.95. The company has a market cap of $2.85 trillion, a price-to-earnings ratio of 45.91, a PEG ratio of 1.76 and a beta of 2.11. The firm's fifty day moving average price is $110.29 and its 200 day moving average price is $127.37.

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

NVIDIA Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA's dividend payout ratio is presently 1.36%.

Insiders Place Their Bets

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now directly owns 479,428 shares in the company, valued at $55,997,190.40. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the completion of the sale, the director now directly owns 53,208 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 147,147 shares of company stock worth $17,133,207. 4.23% of the stock is 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.