Principal Securities Inc. Purchases 7,354 Shares of NVIDIA Co. (NASDAQ:NVDA)

Principal Securities Inc. lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 2.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 320,175 shares of the computer hardware maker’s stock after purchasing an additional 7,354 shares during the quarter. NVIDIA accounts for approximately 1.0% of Principal Securities Inc.’s holdings, making the stock its 17th biggest holding. Principal Securities Inc.’s holdings in NVIDIA were worth $42,996,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. AMF Tjanstepension AB lifted its position in NVIDIA by 2.2% during the 3rd quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock valued at $976,348,000 after purchasing an additional 169,445 shares during the period. Wealth Group Ltd. increased its stake in NVIDIA by 5.0% during the 3rd quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after purchasing an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. increased its stake in NVIDIA by 0.3% during the 3rd quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock worth $14,650,000 after purchasing an additional 350 shares in the last quarter. Swedbank AB raised its holdings in shares of NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock valued at $4,965,526,000 after purchasing an additional 1,868,358 shares during the last quarter. Finally, Cascade Investment Group Inc. raised its holdings in shares of NVIDIA by 57.6% in the third quarter. Cascade Investment Group Inc. now owns 7,873 shares of the computer hardware maker’s stock valued at $956,000 after purchasing an additional 2,878 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NVDA shares. Oppenheimer restated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Susquehanna reaffirmed a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday. Loop Capital reissued a “buy” rating and set a $175.00 target price on shares of NVIDIA in a research note on Wednesday, November 20th. Rosenblatt Securities reissued a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research note on Wednesday. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research note on Wednesday. Four research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.76.

Insider Buying and Selling

In other news, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. The trade was a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at $1,900,690. The trade was a 13.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,449 shares of company stock valued at $11,960,727. 4.23% of the stock is owned by insiders.

NVIDIA Trading Up 1.8 %

NASDAQ NVDA opened at $117.52 on Thursday. The firm has a market capitalization of $2.87 trillion, a P/E ratio of 46.25, a PEG ratio of 1.76 and a beta of 1.77. The business has a fifty day simple moving average of $127.71 and a 200 day simple moving average of $131.12. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analyst estimates of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. On average, analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

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.