BTS Asset Management Inc. Purchases New Position in NVIDIA Co. (NASDAQ:NVDA)

BTS Asset Management Inc. acquired a new position in NVIDIA Co. (NASDAQ:NVDA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,888 shares of the computer hardware maker’s stock, valued at approximately $254,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Quest Partners LLC acquired a new stake in NVIDIA in the second quarter valued at approximately $27,000. Christopher J. Hasenberg Inc acquired a new stake in NVIDIA in the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Management Co. purchased a new stake in NVIDIA in the 2nd quarter worth $31,000. Legend Financial Advisors Inc. acquired a new position in NVIDIA during the fourth quarter worth $34,000. Finally, West Financial Advisors LLC purchased a new position in NVIDIA during the third quarter valued at $36,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,670 shares of the firm’s stock in a transaction 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 completion of the sale, the chief financial officer now owns 3,351,572 shares in the company, valued at approximately $453,802,848.80. This represents a 1.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently weighed in on NVDA shares. DA Davidson upped their price target on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Wedbush increased their target price on NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Mizuho boosted their price target on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. The Goldman Sachs Group raised their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Tigress Financial raised shares of NVIDIA from a “buy” rating to a “strong-buy” rating and upped their target price for the stock from $170.00 to $220.00 in a report on Tuesday, January 28th. Four 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $166.23.

NVIDIA Trading Up 3.1 %

NASDAQ NVDA opened at $128.68 on Friday. The firm has a market cap of $3.15 trillion, a price-to-earnings ratio of 50.64, a PEG ratio of 2.16 and a beta of 1.62. NVIDIA Co. has a one year low of $66.25 and a one year high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The firm has a 50 day simple moving average of $135.62 and a 200-day simple moving average of $129.35.

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 analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company’s revenue was up 93.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. Equities research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s payout ratio is presently 1.57%.

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.