NVIDIA Co. (NASDAQ:NVDA) is Tuttle Capital Management LLC’s Largest Position

Tuttle Capital Management LLC boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 34.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,096 shares of the computer hardware maker’s stock after purchasing an additional 1,312 shares during the period. NVIDIA comprises approximately 4.0% of Tuttle Capital Management LLC’s investment portfolio, making the stock its biggest holding. Tuttle Capital Management LLC’s holdings in NVIDIA were worth $684,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hoertkorn Richard Charles grew its holdings in NVIDIA by 2.0% in the 3rd quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after acquiring an additional 70 shares during the last quarter. Smart Portfolios LLC grew its stake in shares of NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares during the last quarter. Palisade Asset Management LLC increased its holdings in NVIDIA by 0.5% during the 3rd quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after purchasing an additional 75 shares during the period. Kwmg LLC raised its position in NVIDIA by 0.6% during the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after purchasing an additional 77 shares during the last quarter. Finally, Total Wealth Planning LLC boosted its holdings in NVIDIA by 3.6% in the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock valued at $276,000 after acquiring an additional 78 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research reports. The Goldman Sachs Group upped their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Morgan Stanley decreased their price target on shares of NVIDIA from $166.00 to $152.00 and set an “overweight” rating for the company in a research note on Tuesday. Truist Financial lifted their price objective on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research report on Tuesday, November 19th. Bank of America reissued a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $166.23.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the sale, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. Insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

NVDA stock opened at $124.75 on Friday. 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 $60.70 and a 1 year high of $153.13. The company has a market cap of $3.06 trillion, a P/E ratio of 49.09, a price-to-earnings-growth ratio of 2.65 and a beta of 1.64. The stock’s fifty day moving average price is $137.46 and its 200-day moving average price is $129.40.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. During the same period last year, the firm posted $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, equities analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were given a dividend of $0.01 per share. The ex-dividend date was Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.57%.

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.