Navellier & Associates Inc. Buys 36,412 Shares of NVIDIA Co. (NASDAQ:NVDA)

Navellier & Associates Inc. boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 590,797 shares of the computer hardware maker’s stock after acquiring an additional 36,412 shares during the quarter. NVIDIA accounts for 9.5% of Navellier & Associates Inc.’s holdings, making the stock its largest position. Navellier & Associates Inc.’s holdings in NVIDIA were worth $79,338,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Wealth Management Nebraska purchased a new position in shares of NVIDIA during the 4th quarter valued at approximately $1,004,000. Matauro LLC acquired a new stake in NVIDIA during the fourth quarter valued at $3,651,000. Variant Private Wealth LLC acquired a new stake in NVIDIA during the fourth quarter valued at $2,094,000. Dividend Assets Capital LLC increased its holdings in NVIDIA by 5.8% in the fourth quarter. Dividend Assets Capital LLC now owns 8,078 shares of the computer hardware maker’s stock valued at $1,085,000 after buying an additional 442 shares in the last quarter. Finally, PMG Wealth Management Inc. acquired a new position in shares of NVIDIA in the fourth quarter worth about $510,000. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the company. Needham & Company LLC restated a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Morgan Stanley set a $162.00 price objective on NVIDIA and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Wedbush reiterated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research report on Thursday, February 20th. Susquehanna reissued a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, DA Davidson reduced their price objective on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Stock Down 2.0 %

NVDA opened at $111.43 on Friday. The stock has a market capitalization of $2.72 trillion, a P/E ratio of 43.85, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a one year low of $75.61 and a one year high of $153.13. The business’s 50-day simple moving average is $125.57 and its 200-day simple moving average is $131.32. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The business had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Insider Buying and Selling

In related news, CFO Colette Kress sold 66,660 shares of NVIDIA stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the transaction, the director now owns 251,044 shares in the company, valued at $28,993,071.56. The trade was a 17.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 183,609 shares of company stock valued at $22,642,615 over the last quarter. 4.23% of the stock is currently owned by insiders.

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.