Novus Advisors LLC Buys Shares of 23,847 NVIDIA Co. (NASDAQ:NVDA)

Novus Advisors LLC purchased a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,847 shares of the computer hardware maker’s stock, valued at approximately $3,202,000. NVIDIA accounts for about 3.2% of Novus Advisors LLC’s investment portfolio, making the stock its 6th biggest position.

Other hedge funds have also made changes to their positions in the company. Clear Street Derivatives LLC acquired a new stake in NVIDIA in the 3rd quarter valued at approximately $4,589,905,000. Proficio Capital Partners LLC grew its stake in shares of NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after purchasing an additional 34,441,082 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of NVIDIA by 2.2% during the third 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 raised its stake in shares of NVIDIA by 3.8% during the third 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 valued at $21,908,236,000 after purchasing an additional 6,526,200 shares in the last quarter. Finally, National Pension Service lifted its holdings in NVIDIA by 14.9% in the third quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock worth $5,734,483,000 after purchasing an additional 6,118,674 shares during the period. Institutional investors own 65.27% of the company’s stock.

NVIDIA Stock Up 3.1 %

NVDA stock opened at $110.93 on Friday. The company has a 50 day moving average of $118.95 and a two-hundred day moving average of $130.36. The company has a market cap of $2.71 trillion, a price-to-earnings ratio of 43.66, a PEG ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $195.95. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data 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 business had revenue of $39.33 billion during 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, equities analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Activity

In other news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $118.42, for a total transaction of $2,368,400.00. Following the transaction, the director now owns 53,208 shares in the company, valued at approximately $6,300,891.36. This trade represents a 27.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last three months. 4.23% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on NVDA shares. Morgan Stanley set a $162.00 price target on shares of NVIDIA and gave the stock an “overweight” rating in a research report on Wednesday, March 19th. DA Davidson decreased their price target on NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Rosenblatt Securities reissued a “buy” rating and issued a $220.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. KeyCorp set a $190.00 target price on NVIDIA in a research note on Wednesday, March 19th. Finally, DZ Bank upgraded shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 28th. Six equities research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $168.39.

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.