Accuvest Global Advisors Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Accuvest Global Advisors raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 285.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,912 shares of the computer hardware maker’s stock after acquiring an additional 14,746 shares during the quarter. NVIDIA makes up 3.8% of Accuvest Global Advisors’ investment portfolio, making the stock its 15th largest position. Accuvest Global Advisors’ holdings in NVIDIA were worth $2,674,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA during the 4th quarter worth approximately $34,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA during the 4th quarter valued at $40,000. DHJJ Financial Advisors Ltd. increased its position in NVIDIA by 70.0% during the third quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after buying an additional 140 shares in the last quarter. Lowe Wealth Advisors LLC acquired a new position in shares of NVIDIA in the fourth quarter worth $46,000. Finally, 1620 Investment Advisors Inc. boosted its stake in shares of NVIDIA by 145.9% during the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after acquiring an additional 248 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total value of $5,509,408.20. Following the completion of the transaction, the executive vice president now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director John Dabiri sold 2,663 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the sale, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 179,109 shares of company stock valued at $22,117,015. Insiders own 4.23% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. 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 note on Friday, January 17th. Needham & Company LLC reissued a “buy” rating and set a $160.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Rosenblatt Securities restated a “buy” rating and set a $220.00 target price on shares of NVIDIA in a research report on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a report on Wednesday, March 19th. Finally, KeyCorp set a $190.00 price objective on NVIDIA in a report on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $171.51.

NVIDIA Trading Up 3.2 %

Shares of NVDA opened at $121.41 on Tuesday. 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 one year low of $75.61 and a one year high of $153.13. The stock has a 50-day moving average price of $126.68 and a 200 day moving average price of $131.46. The company has a market capitalization of $2.96 trillion, a P/E ratio of 47.78, a P/E/G ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. The business 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%. Sell-side analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

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.