Avalon Capital Management Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Avalon Capital Management raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 7.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,718 shares of the computer hardware maker’s stock after buying an additional 965 shares during the period. Avalon Capital Management’s holdings in NVIDIA were worth $1,842,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Performance Advisors LLP raised its stake in NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock valued at $3,586,000 after purchasing an additional 9,944 shares during the last quarter. Palisade Asset Management LLC boosted its stake in shares of NVIDIA by 0.5% during the 3rd 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 during the last quarter. SMART Wealth LLC grew its holdings 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 buying an additional 53,747 shares in the last quarter. Blue Square Asset Management LLC raised its position in shares of NVIDIA by 26.7% in the third quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock valued at $5,840,000 after buying an additional 10,136 shares during the last quarter. Finally, Wealthspire Advisors LLC boosted its position in NVIDIA by 29.6% during the fourth quarter. Wealthspire Advisors LLC now owns 174,896 shares of the computer hardware maker’s stock worth $23,487,000 after acquiring an additional 39,944 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 1.2 %

NASDAQ NVDA opened at $108.38 on Tuesday. The company has a market capitalization of $2.64 trillion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $195.95. The company’s fifty day moving average price is $124.42 and its two-hundred day moving average price is $131.53.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $38.16 billion. As a group, research analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NVDA. Rosenblatt Securities reissued a “buy” rating and set a $220.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Stifel Nicolaus set a $180.00 price target on NVIDIA in a research note on Wednesday, March 19th. Morgan Stanley set a $162.00 price objective on shares of NVIDIA and gave the stock an “overweight” rating in a report on Wednesday, March 19th. DA Davidson lowered their target price on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Finally, KeyCorp set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $171.51.

Insider Buying and Selling

In other news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the sale, the executive vice president now directly owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now owns 3,085,765 shares of the company’s stock, valued at $360,509,924.95. This represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 183,609 shares of company stock worth $22,642,615 over the last ninety days. 4.23% of the stock is owned by insiders.

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.