NVIDIA Co. (NASDAQ:NVDA) is Alerus Financial NA’s 8th Largest Position

Alerus Financial NA reduced its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 7.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 383,649 shares of the computer hardware maker’s stock after selling 29,354 shares during the period. NVIDIA makes up about 3.4% of Alerus Financial NA’s holdings, making the stock its 8th largest position. Alerus Financial NA’s holdings in NVIDIA were worth $46,590,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Quest Partners LLC acquired a new stake in NVIDIA in the 2nd quarter valued at about $27,000. Christopher J. Hasenberg Inc purchased a new position in shares of NVIDIA during the 3rd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. acquired a new position in shares of NVIDIA during the 2nd quarter worth approximately $31,000. West Financial Advisors LLC acquired a new stake in NVIDIA during the 3rd quarter valued at $36,000. Finally, DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Bank of America reaffirmed a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. The Goldman Sachs Group boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Evercore ISI raised their target price on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Susquehanna boosted their price target on NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a report on Thursday, November 14th. Finally, Robert W. Baird increased their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $164.27.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of NVIDIA stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by insiders.

NVIDIA Trading Up 3.5 %

NVDA opened at $136.32 on Thursday. NVIDIA Co. has a 12-month low of $54.74 and a 12-month high of $153.13. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The stock has a market capitalization of $3.34 trillion, a PE ratio of 53.65, a P/E/G ratio of 2.43 and a beta of 1.64. The firm’s fifty day moving average price is $139.68 and its 200 day moving average price is $128.82.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue for the quarter was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 EPS. As a group, research analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

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.