Tuttle Capital Management LLC Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Tuttle Capital Management LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 34.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,096 shares of the computer hardware maker’s stock after buying an additional 1,312 shares during the period. NVIDIA makes up approximately 4.0% of Tuttle Capital Management LLC’s investment portfolio, making the stock its largest position. Tuttle Capital Management LLC’s holdings in NVIDIA were worth $684,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. GSG Advisors LLC increased its stake in shares of NVIDIA by 1.4% in the 4th quarter. GSG Advisors LLC now owns 41,567 shares of the computer hardware maker’s stock valued at $5,582,000 after purchasing an additional 554 shares during the last quarter. Rosenberg Matthew Hamilton boosted its stake in NVIDIA by 4.7% in the fourth quarter. Rosenberg Matthew Hamilton now owns 21,152 shares of the computer hardware maker’s stock valued at $2,841,000 after buying an additional 949 shares in the last quarter. PCA Investment Advisory Services Inc. grew its position in NVIDIA by 3.5% in the fourth quarter. PCA Investment Advisory Services Inc. now owns 10,199 shares of the computer hardware maker’s stock valued at $1,370,000 after acquiring an additional 349 shares during the last quarter. Global Financial Private Client LLC raised its stake in NVIDIA by 2.0% during the fourth quarter. Global Financial Private Client LLC now owns 19,947 shares of the computer hardware maker’s stock worth $2,679,000 after acquiring an additional 382 shares in the last quarter. Finally, Signal Advisors Wealth LLC lifted its holdings in shares of NVIDIA by 58.3% in the fourth quarter. Signal Advisors Wealth LLC now owns 64,812 shares of the computer hardware maker’s stock worth $8,704,000 after acquiring an additional 23,867 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Performance

Shares of NVDA opened at $124.75 on Friday. The stock has a 50-day moving average of $137.46 and a 200-day moving average of $129.40. NVIDIA Co. has a one year low of $60.70 and a one year 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 company has a market cap of $3.06 trillion, a PE ratio of 49.09, a P/E/G ratio of 2.65 and a beta of 1.64.

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

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. 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%.

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total value of $101,672.00. Following the completion of the sale, the director now directly owns 19,942 shares of the company’s stock, valued at approximately $2,831,764. This represents a 3.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on 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 transaction, the executive vice president now directly owns 3,902,888 shares in the company, 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 a total of 1,108,348 shares of company stock valued at $146,506,958 over the last three months. Corporate insiders own 4.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NVDA shares. Piper Sandler lifted their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Raymond James boosted their target price on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Deutsche Bank Aktiengesellschaft increased their price target on NVIDIA from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Thursday, November 21st. Robert W. Baird boosted their price objective on NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, DA Davidson increased their target price on NVIDIA from $90.00 to $135.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average price target of $166.23.

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.