Talos Asset Management LP purchased a new position in NVIDIA Co. (NASDAQ:NVDA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 328,300 shares of the computer hardware maker's stock, valued at approximately $44,087,000. NVIDIA comprises approximately 10.4% of Talos Asset Management LP's holdings, making the stock its 2nd largest position.
A number of other hedge funds have also modified their holdings of NVDA. SOA Wealth Advisors LLC. increased its stake in NVIDIA by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker's stock worth $14,650,000 after buying an additional 350 shares during the period. Swedbank AB grew its holdings in NVIDIA by 4.8% during the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker's stock worth $4,965,526,000 after acquiring an additional 1,868,358 shares in the last quarter. Impax Asset Management Group plc increased its position in shares of NVIDIA by 13.2% in the 3rd quarter. Impax Asset Management Group plc now owns 5,501,589 shares of the computer hardware maker's stock valued at $667,278,000 after purchasing an additional 640,840 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of NVIDIA by 3.7% during the 3rd 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. Finally, Beta Wealth Group Inc. grew its stake in shares of NVIDIA by 88.4% during the third quarter. Beta Wealth Group Inc. now owns 21,461 shares of the computer hardware maker's stock worth $2,606,000 after purchasing an additional 10,069 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.
NVIDIA Price Performance
NVIDIA stock traded up $4.58 during mid-day trading on Friday, hitting $111.01. The company's stock had a trading volume of 250,248,639 shares, compared to its average volume of 304,641,559. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $81.25 and a twelve month high of $195.95. The stock has a market capitalization of $2.71 trillion, a P/E ratio of 43.69, a P/E/G ratio of 1.76 and a beta of 1.96. The stock's fifty day moving average price is $113.21 and its two-hundred day moving average price is $128.95.
NVIDIA (NASDAQ:NVDA - Get Free Report) last posted its quarterly 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 company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. Research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.
NVIDIA Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio is currently 1.36%.
Insiders Place Their Bets
In other NVIDIA news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now owns 17,279 shares in the company, valued at $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now owns 251,044 shares of the company's stock, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock valued at $17,133,207 in the last three months. Company insiders own 4.23% of the company's stock.
Analysts Set New Price Targets
A number of brokerages have issued reports on NVDA. KeyCorp set a $190.00 price target on NVIDIA in a report on Wednesday, March 19th. Summit Insights downgraded shares of NVIDIA from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. TD Cowen reduced their price target on shares of NVIDIA from $175.00 to $140.00 and set a "buy" rating for the company in a research report on Wednesday, April 9th. Citigroup reissued a "buy" rating on shares of NVIDIA in a report on Wednesday, April 16th. Finally, Rosenblatt Securities reduced their price objective on NVIDIA from $220.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, NVIDIA presently has a consensus rating of "Moderate Buy" and an average price target of $164.96.
Read Our Latest Analysis on NVIDIA
About NVIDIA
(
Free Report)
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.
Further Reading
Before you consider NVIDIA, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and NVIDIA wasn't on the list.
While NVIDIA currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
