Tower Bridge Advisors Has $4.53 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Tower Bridge Advisors lifted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 33,700 shares of the computer hardware maker’s stock after purchasing an additional 3,000 shares during the period. Tower Bridge Advisors’ holdings in NVIDIA were worth $4,526,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. AMF Tjanstepension AB increased its holdings in shares of NVIDIA by 2.2% in the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock valued at $976,348,000 after purchasing an additional 169,445 shares during the last quarter. Wealth Group Ltd. boosted its holdings 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. grew its stake in NVIDIA by 0.3% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock valued at $14,650,000 after buying an additional 350 shares during the last quarter. Swedbank AB raised its holdings in NVIDIA by 4.8% in the 3rd quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after acquiring an additional 1,868,358 shares during the period. Finally, BayBridge Capital Group LLC lifted its position in NVIDIA by 29.8% during the third quarter. BayBridge Capital Group LLC now owns 24,555 shares of the computer hardware maker’s stock worth $2,982,000 after acquiring an additional 5,636 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

NVDA has been the subject of several research reports. Mizuho dropped their price target on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a report on Friday, March 14th. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Susquehanna restated a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Benchmark reiterated a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Rosenblatt Securities restated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.89.

NVIDIA Stock Down 7.4 %

Shares of NASDAQ NVDA opened at $94.31 on Friday. The company has a 50 day simple moving average of $121.20 and a 200 day simple moving average of $130.96. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $195.95. The firm has a market cap of $2.30 trillion, a PE ratio of 37.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last released its quarterly 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. The firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s payout ratio is presently 1.36%.

Insider Buying and Selling at NVIDIA

In related news, Director Robert K. Burgess sold 53,324 shares of NVIDIA 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 directly owns 251,044 shares of the company’s stock, valued at $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now directly owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 183,609 shares of company stock worth $22,642,615. Insiders own 4.23% of the company’s stock.

NVIDIA 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.