Asset Allocation & Management Company LLC Invests $1.06 Million in NVIDIA Co. (NASDAQ:NVDA)

Asset Allocation & Management Company 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 (SEC). The fund purchased 7,900 shares of the computer hardware maker’s stock, valued at approximately $1,061,000. NVIDIA accounts for 0.6% of Asset Allocation & Management Company LLC’s portfolio, making the stock its 28th biggest holding.

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

NVIDIA Stock Performance

NVDA stock opened at $118.48 on Tuesday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $2.90 trillion, a price-to-earnings ratio of 46.63, a P/E/G ratio of 2.65 and a beta of 1.64. NVIDIA Co. has a 12 month low of $60.70 and a 12 month high of $153.13. The firm has a 50 day moving average of $138.72 and a two-hundred day moving average of $129.52.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data 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 net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $35.08 billion during the quarter, compared to analysts’ expectations of $33.15 billion. During the same period in the previous year, the company earned $0.38 earnings per share. NVIDIA’s revenue for the quarter was up 93.6% on a year-over-year basis. As a group, equities analysts anticipate that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Investors 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%.

Insider Activity

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,670 shares of the stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $135.40, for a total transaction of $9,027,118.00. Following the sale, the chief financial officer now directly owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a report on Thursday, November 21st. Needham & Company LLC upped their price target on shares of NVIDIA from $145.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Benchmark reissued a “buy” rating and issued a $190.00 price objective on shares of NVIDIA in a research report on Tuesday, January 7th. JPMorgan Chase & Co. raised their price target on shares of NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Bank of America reiterated a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a research note on Thursday, November 21st. Four research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and an average target price of $165.23.

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.