Towercrest Capital Management Acquires 2,583 Shares of NVIDIA Co. (NASDAQ:NVDA)

Towercrest Capital Management increased its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 16.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,123 shares of the computer hardware maker's stock after purchasing an additional 2,583 shares during the period. Towercrest Capital Management's holdings in NVIDIA were worth $2,434,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Sheets Smith Investment Management purchased a new position in NVIDIA during the fourth quarter worth about $3,023,000. Jackson Thornton Wealth Management LLC boosted its stake in shares of NVIDIA by 99.3% in the 4th quarter. Jackson Thornton Wealth Management LLC now owns 20,305 shares of the computer hardware maker's stock worth $2,727,000 after buying an additional 10,117 shares during the last quarter. Clune & Associates LTD. bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $3,955,000. Mountain Hill Investment Partners Corp. bought a new stake in NVIDIA during the fourth quarter worth $846,000. Finally, McCollum Christoferson Group LLC boosted its position in NVIDIA by 2.1% in the fourth quarter. McCollum Christoferson Group LLC now owns 15,218 shares of the computer hardware maker's stock worth $2,044,000 after purchasing an additional 318 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on NVDA shares. TD Cowen lowered their target price on NVIDIA from $175.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Raymond James restated a "strong-buy" rating on shares of NVIDIA in a research note on Wednesday, April 16th. Susquehanna reiterated a "positive" rating and issued a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Benchmark reissued a "buy" rating and issued a $190.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, Citigroup reaffirmed a "buy" rating on shares of NVIDIA in a research report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.96.

NVIDIA Trading Up 4.2 %

NVIDIA stock traded up $4.58 during trading hours on Thursday, reaching $113.50. The stock had a trading volume of 65,435,564 shares, compared to its average volume of 301,953,937. NVIDIA Co. has a 52 week low of $81.25 and a 52 week high of $195.95. The stock has a market cap of $2.77 trillion, a PE ratio of 44.63, a PEG ratio of 1.76 and a beta of 1.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The company has a fifty day simple moving average of $111.47 and a 200-day simple moving average of $128.49.

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

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.

Insider Activity

In other NVIDIA news, CFO Colette Kress sold 66,660 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of the firm'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 transaction of $2,368,400.00. Following the completion of the sale, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This represents a 27.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 147,147 shares of company stock worth $17,133,207. Insiders own 4.23% of the company's stock.

About NVIDIA

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.