Cranbrook Wealth Management LLC Acquires 624 Shares of NVIDIA Co. (NASDAQ:NVDA)

Cranbrook Wealth Management LLC boosted its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 11.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,952 shares of the computer hardware maker’s stock after purchasing an additional 624 shares during the period. Cranbrook Wealth Management LLC’s holdings in NVIDIA were worth $799,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Carderock Capital Management Inc. lifted its position in NVIDIA by 3.0% during the 4th quarter. Carderock Capital Management Inc. now owns 55,115 shares of the computer hardware maker’s stock worth $7,401,000 after buying an additional 1,618 shares in the last quarter. 25 LLC boosted its stake in shares of NVIDIA by 35.1% during the 4th quarter. 25 LLC now owns 7,601 shares of the computer hardware maker’s stock worth $1,021,000 after acquiring an additional 1,975 shares during the period. Sax Wealth Advisors LLC increased its holdings in shares of NVIDIA by 6.3% in the fourth quarter. Sax Wealth Advisors LLC now owns 47,836 shares of the computer hardware maker’s stock valued at $6,424,000 after purchasing an additional 2,856 shares during the last quarter. Somerset Trust Co raised its holdings in NVIDIA by 8.8% in the 4th quarter. Somerset Trust Co now owns 5,628 shares of the computer hardware maker’s stock valued at $756,000 after acquiring an additional 456 shares during the period. Finally, Merit Financial Group LLC grew its position in shares of NVIDIA by 53.8% in the fourth quarter. Merit Financial Group LLC now owns 486,396 shares of the computer hardware maker’s stock valued at $65,318,000 after purchasing an additional 170,157 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of several recent research reports. Truist Financial boosted their price target on NVIDIA from $148.00 to $167.00 and gave the company a “buy” rating in a research note on Tuesday, November 19th. Barclays boosted their target price 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. Evercore ISI lifted their price objective on shares of NVIDIA from $189.00 to $190.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a research report on Monday, January 27th. Finally, 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 research report on Monday, November 11th. Four research analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $166.23.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $124.76 on Thursday. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a fifty-two week low of $66.25 and a fifty-two week high of $153.13. The company has a 50 day simple moving average of $135.83 and a two-hundred day simple moving average of $129.39. The company has a market capitalization of $3.06 trillion, a PE ratio of 49.10, a P/E/G ratio of 2.16 and a beta of 1.62.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share 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 analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA’s revenue for the quarter was up 93.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 earnings per share. Research analysts anticipate that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were paid 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 1.57%.

Insiders Place Their Bets

In other news, Director John Dabiri sold 716 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now owns 19,942 shares of the company’s stock, valued at $2,831,764. This represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is owned by corporate insiders.

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.