Advisors Asset Management Inc. Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Advisors Asset Management Inc. increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 13.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 180,476 shares of the computer hardware maker’s stock after buying an additional 21,199 shares during the period. Advisors Asset Management Inc.’s holdings in NVIDIA were worth $21,917,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Howe & Rusling Inc. increased its stake in shares of NVIDIA by 5.9% during the third quarter. Howe & Rusling Inc. now owns 160,620 shares of the computer hardware maker’s stock worth $19,506,000 after buying an additional 8,897 shares during the period. Grant Street Asset Management Inc. increased its stake in shares of NVIDIA by 19.6% during the third quarter. Grant Street Asset Management Inc. now owns 3,483 shares of the computer hardware maker’s stock worth $423,000 after buying an additional 572 shares during the period. NS Partners Ltd increased its stake in NVIDIA by 0.3% in the third quarter. NS Partners Ltd now owns 1,526,593 shares of the computer hardware maker’s stock valued at $185,389,000 after purchasing an additional 5,129 shares during the last quarter. Kirtland Hills Capital Management LLC increased its stake in NVIDIA by 11.6% in the third quarter. Kirtland Hills Capital Management LLC now owns 29,484 shares of the computer hardware maker’s stock valued at $3,581,000 after purchasing an additional 3,074 shares during the last quarter. Finally, MWA Asset Management increased its stake in NVIDIA by 7.2% in the third quarter. MWA Asset Management now owns 37,136 shares of the computer hardware maker’s stock valued at $4,510,000 after purchasing an additional 2,491 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, November 21st. Wells Fargo & Company increased their price target on shares of NVIDIA from $165.00 to $185.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Needham & Company LLC increased their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, November 21st. Barclays increased their price target on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Finally, Piper Sandler increased their price target on shares of NVIDIA from $140.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $164.15.

Insider Activity

In other news, Director Mark A. Stevens sold 155,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $132.27, for a total value of $20,501,850.00. Following the completion of the transaction, the director now owns 8,100,117 shares in the company, valued at $1,071,402,475.59. This trade represents a 1.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction on 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 transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 1,226,886 shares of company stock worth $161,499,400 over the last 90 days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

NVIDIA stock opened at $144.47 on Monday. NVIDIA Co. has a one year low of $47.51 and a one year high of $152.89. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The business has a fifty day moving average of $139.57 and a two-hundred day moving average of $128.15. The company has a market cap of $3.54 trillion, a P/E ratio of 56.86, a price-to-earnings-growth ratio of 2.43 and a beta of 1.63.

NVIDIA (NASDAQ:NVDA) last released its earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. During the same quarter last year, the company earned $0.38 earnings per share. NVIDIA’s quarterly revenue was up 93.6% compared to the same quarter last year. As a group, analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is currently 1.57%.

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.