Empirical Asset Management LLC Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Empirical Asset Management LLC increased its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1,398.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 749,580 shares of the computer hardware maker’s stock after acquiring an additional 699,568 shares during the period. NVIDIA comprises about 2.9% of Empirical Asset Management LLC’s investment portfolio, making the stock its 8th biggest position. Empirical Asset Management LLC’s holdings in NVIDIA were worth $100,661,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Cvfg LLC bought a new position in shares of NVIDIA in the fourth quarter worth about $1,455,000. Constitution Capital LLC lifted its holdings in NVIDIA by 6.0% during the 4th quarter. Constitution Capital LLC now owns 39,970 shares of the computer hardware maker’s stock worth $5,368,000 after buying an additional 2,250 shares in the last quarter. Central Valley Advisors LLC boosted its position in NVIDIA by 4.7% in the 4th quarter. Central Valley Advisors LLC now owns 28,564 shares of the computer hardware maker’s stock valued at $3,836,000 after buying an additional 1,273 shares during the last quarter. Bennett Associates Wealth Management bought a new stake in shares of NVIDIA during the fourth quarter worth $328,000. Finally, Salvus Wealth Management LLC lifted its stake in shares of NVIDIA by 4.5% during the fourth quarter. Salvus Wealth Management LLC now owns 18,596 shares of the computer hardware maker’s stock valued at $2,497,000 after acquiring an additional 794 shares during the period. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Tigress Financial raised NVIDIA from a “buy” rating to a “strong-buy” rating and increased their price target for the company from $170.00 to $220.00 in a research note on Tuesday, January 28th. HSBC lowered their price target on NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research note on Monday, January 13th. Rosenblatt Securities reiterated a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a report on Wednesday, January 8th. TD Cowen boosted their price target on shares of NVIDIA from $165.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on NVIDIA from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $166.23.

Insider Activity

In other news, Director Tench Coxe sold 1,000,000 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the completion of the sale, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,108,348 shares of company stock worth $146,506,958 over the last 90 days. 4.23% of the stock is owned by company insiders.

NVIDIA Stock Up 1.7 %

NASDAQ:NVDA opened at $118.65 on Wednesday. The firm has a market capitalization of $2.91 trillion, a PE ratio of 46.69, a price-to-earnings-growth ratio of 2.16 and a beta of 1.62. NVIDIA Co. has a 52 week low of $66.25 and a 52 week 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. The stock has a 50 day moving average of $136.19 and a 200-day moving average of $129.38.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion for the quarter, compared to analysts’ expectations of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 earnings per share. Analysts predict that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio (DPR) 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.