Abacus Planning Group Inc. Purchases 2,360 Shares of NVIDIA Co. (NASDAQ:NVDA)

Abacus Planning Group Inc. boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,289 shares of the computer hardware maker’s stock after buying an additional 2,360 shares during the quarter. NVIDIA makes up approximately 0.9% of Abacus Planning Group Inc.’s investment portfolio, making the stock its 22nd largest position. Abacus Planning Group Inc.’s holdings in NVIDIA were worth $4,873,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Geode Capital Management LLC increased its position in NVIDIA by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock valued at $66,101,133,000 after purchasing an additional 11,525,969 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of NVIDIA by 3.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after purchasing an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of NVIDIA by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after purchasing an additional 2,042,348 shares during the last quarter. Fisher Asset Management LLC increased its position in shares of NVIDIA by 3.5% during the third quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker’s stock worth $11,745,763,000 after buying an additional 3,283,380 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its position in shares of NVIDIA by 0.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 63,615,639 shares of the computer hardware maker’s stock worth $8,542,944,000 after buying an additional 186,761 shares during the period. 65.27% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NVDA has been the topic of a number of research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research report on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Susquehanna reiterated a “positive” rating and issued a $180.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. DZ Bank upgraded NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. Finally, Barclays raised their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $171.51.

NVIDIA Stock Up 3.2 %

NVIDIA stock opened at $121.41 on Tuesday. The firm has a market capitalization of $2.96 trillion, a price-to-earnings ratio of 47.78, a P/E/G ratio of 1.76 and a beta of 1.77. The firm has a 50 day simple moving average of $126.68 and a 200 day simple moving average of $131.46. NVIDIA Co. has a 1-year low of $75.61 and a 1-year 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.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be given a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 completion of the sale, the director now owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 179,109 shares of company stock valued at $22,117,015. Corporate 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.