Wedmont Private Capital Has $54.49 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Wedmont Private Capital increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 400,948 shares of the computer hardware maker’s stock after acquiring an additional 25,146 shares during the quarter. NVIDIA comprises 2.9% of Wedmont Private Capital’s holdings, making the stock its 10th biggest position. Wedmont Private Capital’s holdings in NVIDIA were worth $54,493,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quest Partners LLC purchased a new stake in shares of NVIDIA during the second quarter worth about $27,000. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA in the 3rd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA during the 2nd quarter worth approximately $31,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the 4th quarter valued at approximately $34,000. Finally, West Financial Advisors LLC purchased a new position in shares of NVIDIA in the third quarter worth $36,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NVIDIA stock opened at $127.80 on Wednesday. The company has a fifty day simple moving average of $138.29 and a 200-day simple moving average of $129.45. The firm has a market capitalization of $3.13 trillion, a price-to-earnings ratio of 50.29, a PEG ratio of 2.65 and a beta of 1.64. 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 $60.70 and a 52-week high of $153.13.

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

NVIDIA Dividend Announcement

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

Insider Activity at NVIDIA

In other 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 approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 716 shares of NVIDIA stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the completion of the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVDA. Deutsche Bank Aktiengesellschaft upped their target price on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Thursday, November 21st. Melius Research increased their price objective on NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Wells Fargo & Company raised their price objective on NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Mizuho increased their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Citigroup lifted their price objective on shares of NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, NVIDIA has a consensus rating of “Moderate Buy” and a consensus target price of $166.23.

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.