Range Financial Group LLC Buys 30,559 Shares of NVIDIA Co. (NASDAQ:NVDA)

Range Financial Group LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 113.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 57,587 shares of the computer hardware maker’s stock after buying an additional 30,559 shares during the quarter. NVIDIA makes up approximately 3.6% of Range Financial Group LLC’s portfolio, making the stock its 2nd biggest position. Range Financial Group LLC’s holdings in NVIDIA were worth $7,733,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in NVDA. Legal & General Group Plc increased its holdings in NVIDIA by 884.0% in the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock valued at $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of NVIDIA by 870.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock worth $12,658,922,000 after acquiring an additional 91,867,031 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of NVIDIA by 1,123.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 92,039,713 shares of the computer hardware maker’s stock valued at $11,371,255,000 after acquiring an additional 84,515,429 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in shares of NVIDIA by 808.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 82,689,605 shares of the computer hardware maker’s stock valued at $10,215,474,000 after acquiring an additional 73,589,208 shares during the last quarter. Finally, American Century Companies Inc. raised its position in shares of NVIDIA by 882.4% during the 2nd quarter. American Century Companies Inc. now owns 73,648,364 shares of the computer hardware maker’s stock worth $9,098,519,000 after acquiring an additional 66,151,750 shares in the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Down 3.1 %

Shares of NVDA opened at $142.62 on Friday. NVIDIA Co. has a twelve month low of $60.57 and a twelve month high of $153.13. 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 firm has a market capitalization of $3.49 trillion, a P/E ratio of 56.13, a PEG ratio of 2.65 and a beta of 1.64. The firm’s 50-day moving average is $138.72 and its two-hundred day moving average is $129.57.

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

NVIDIA Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently issued reports on NVDA. Needham & Company LLC upped their price target on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft upped their target price on shares of NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a report on Thursday, November 21st. Oppenheimer reiterated an “outperform” rating and set a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Truist Financial upped their price objective on shares of NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Finally, Robert W. Baird lifted their target price on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

Insider Transactions at NVIDIA

In other news, CFO Colette Kress sold 66,670 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.40, for a total value of $9,027,118.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock valued at $146,506,958 in the last 90 days. 4.23% of the stock is currently owned by insiders.

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.