Canvas Wealth Advisors LLC Has $10.62 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Canvas Wealth Advisors LLC boosted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 79,067 shares of the computer hardware maker’s stock after acquiring an additional 4,619 shares during the period. NVIDIA accounts for 2.7% of Canvas Wealth Advisors LLC’s portfolio, making the stock its 12th largest position. Canvas Wealth Advisors LLC’s holdings in NVIDIA were worth $10,618,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Palisade Asset Management LLC boosted its position in shares of NVIDIA by 0.5% during the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares in the last quarter. Blue Square Asset Management LLC boosted its position in shares of NVIDIA by 26.7% during the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after purchasing an additional 10,136 shares in the last quarter. SMART Wealth LLC boosted its position in shares of NVIDIA by 289.5% during the fourth quarter. SMART Wealth LLC now owns 72,311 shares of the computer hardware maker’s stock worth $9,711,000 after purchasing an additional 53,747 shares in the last quarter. Narwhal Capital Management boosted its position in shares of NVIDIA by 5.1% during the third quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after purchasing an additional 26,373 shares in the last quarter. Finally, Tybourne Capital Management HK Ltd. boosted its position in shares of NVIDIA by 46.7% during the third quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock worth $2,043,000 after purchasing an additional 5,360 shares in the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

NVIDIA Stock Up 1.7 %

Shares of NVDA opened at $108.76 on Wednesday. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The firm has a market cap of $2.65 trillion, a P/E ratio of 42.80, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The firm’s 50-day simple moving average is $130.54 and its 200 day simple moving average is $131.42. 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 announced its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. On average, analysts forecast 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 will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date is Wednesday, March 12th. NVIDIA’s dividend payout ratio is currently 1.36%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. TD Cowen lifted their price target on shares of NVIDIA from $165.00 to $175.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Benchmark reissued a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 price objective on shares of NVIDIA in a research report on Thursday, February 27th. The Goldman Sachs Group boosted their price objective on shares of NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Finally, Tigress Financial reaffirmed a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $171.69.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the sale, the director now owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 sale, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,107,632 shares of company stock valued at $146,405,286 in the last quarter. Company insiders own 4.23% of the company’s stock.

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.