Tri Ri Asset Management Corp Takes $1.25 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Tri Ri Asset Management Corp acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,253 shares of the computer hardware maker’s stock, valued at approximately $1,245,000. NVIDIA comprises approximately 1.4% of Tri Ri Asset Management Corp’s holdings, making the stock its 21st biggest position.

A number of other hedge funds have also recently made changes to their positions in the business. Quest Partners LLC purchased a new position in NVIDIA in the second quarter valued at about $27,000. Christopher J. Hasenberg Inc purchased a new position in NVIDIA in the third quarter valued at about $27,000. University of Texas Texas AM Investment Management Co. purchased a new position in NVIDIA in the second quarter valued at about $31,000. West Financial Advisors LLC purchased a new position in NVIDIA in the third quarter valued at about $36,000. Finally, DHJJ Financial Advisors Ltd. boosted its stake in NVIDIA by 70.0% in the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock valued at $41,000 after acquiring an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the sale, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. The trade was a 3.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $135.40, for a total value of $9,027,118.00. Following the completion of the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at $453,802,848.80. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock valued at $146,506,958 in the last quarter. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $147.07 on Thursday. 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 Co. has a 52-week low of $58.58 and a 52-week high of $153.13. The stock’s 50 day moving average is $138.69 and its two-hundred day moving average is $129.22. The company has a market capitalization of $3.60 trillion, a PE ratio of 57.88, a P/E/G ratio of 2.48 and a beta of 1.64.

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

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Susquehanna boosted their target price on shares of NVIDIA from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Thursday, November 14th. Piper Sandler boosted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Barclays boosted their price target on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Bank of America reaffirmed a “buy” rating and set a $190.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Finally, Truist Financial increased their price target on shares of NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four investment analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $164.63.

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.