EdgeRock Capital LLC Increases Stake in NVIDIA Co. (NASDAQ:NVDA)

EdgeRock Capital LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 10.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 35,728 shares of the computer hardware maker’s stock after purchasing an additional 3,476 shares during the quarter. NVIDIA comprises about 3.1% of EdgeRock Capital LLC’s holdings, making the stock its 9th biggest holding. EdgeRock Capital LLC’s holdings in NVIDIA were worth $4,798,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. AMF Tjanstepension AB increased its position in NVIDIA by 2.2% in the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after purchasing an additional 169,445 shares during the period. Wealth Group Ltd. grew its position in shares of NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after buying an additional 265 shares during the period. SOA Wealth Advisors LLC. raised its stake in shares of NVIDIA by 0.3% during the third 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 last quarter. Swedbank AB lifted its holdings in NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after buying an additional 1,868,358 shares during the period. Finally, Sterling Financial Group Inc. boosted its stake in NVIDIA by 1.9% in the third quarter. Sterling Financial Group Inc. now owns 15,225 shares of the computer hardware maker’s stock valued at $1,849,000 after acquiring an additional 285 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Aarti S. Shah sold 20,000 shares of the business’s stock in a transaction 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 sale, the director now directly owns 53,208 shares in the company, valued at approximately $6,300,891.36. The trade was a 27.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 183,609 shares of company stock valued at $22,642,615. Company insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 1.2 %

Shares of NVDA stock opened at $108.38 on Tuesday. The stock has a 50 day simple moving average of $124.42 and a 200 day simple moving average of $131.53. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $195.95. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The stock has a market cap of $2.64 trillion, a P/E ratio of 42.65, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77.

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

NVIDIA Announces Dividend

The company also recently announced 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. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s payout ratio is presently 1.36%.

Analysts Set New Price Targets

Several analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. KeyCorp set a $190.00 target price on NVIDIA in a research note on Wednesday, March 19th. Barclays boosted their target price on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Morgan Stanley set a $162.00 price objective on NVIDIA and gave the company an “overweight” rating in a report on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $171.51.

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.