Eagle Ridge Investment Management Purchases New Stake in NVIDIA Co. (NASDAQ:NVDA)

Eagle Ridge Investment Management acquired a new stake in NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,618 shares of the computer hardware maker’s stock, valued at approximately $217,000.

Other institutional investors have also recently bought and sold shares of the company. Citrine Capital LLC bought a new stake in shares of NVIDIA during the 4th quarter worth approximately $23,850,000. Oakworth Capital Inc. raised its position in NVIDIA by 1.1% in the fourth quarter. Oakworth Capital Inc. now owns 76,004 shares of the computer hardware maker’s stock valued at $10,207,000 after purchasing an additional 821 shares during the last quarter. McHugh Group LLC acquired a new position in NVIDIA in the 4th quarter valued at approximately $17,091,000. Buck Wealth Strategies LLC acquired a new position in NVIDIA during the 4th quarter worth about $440,000. Finally, Silver Oak Securities Incorporated raised its holdings in NVIDIA by 11.8% during the 4th quarter. Silver Oak Securities Incorporated now owns 115,127 shares of the computer hardware maker’s stock worth $15,829,000 after purchasing an additional 12,128 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Up 1.9 %

NVDA opened at $112.69 on Friday. The business’s 50-day simple moving average is $131.66 and its 200-day simple moving average is $131.63. The company has a market cap of $2.75 trillion, a P/E ratio of 44.35, a PEG ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a one year low of $75.61 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.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, equities research analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s payout ratio is 1.36%.

Insider Buying and Selling

In related news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total value 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction dated 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 directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,107,632 shares of company stock valued at $146,405,286. Corporate insiders own 4.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on NVDA. The Goldman Sachs Group increased their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Melius Research boosted their target price on NVIDIA from $165.00 to $185.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Redburn Atlantic assumed coverage on shares of NVIDIA in a research note on Tuesday, November 12th. They set a “buy” rating and a $178.00 price target for the company. Cantor Fitzgerald reissued an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Thursday, February 27th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Thursday, November 21st. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $171.69.

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.