Alhambra Investment Management LLC Purchases 93 Shares of NVIDIA Co. (NASDAQ:NVDA)

Alhambra Investment Management LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 5.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,933 shares of the computer hardware maker’s stock after acquiring an additional 93 shares during the quarter. Alhambra Investment Management LLC’s holdings in NVIDIA were worth $260,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC increased its position in shares of NVIDIA by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after purchasing an additional 11,525,969 shares during the last quarter. Legal & General Group Plc increased its holdings in NVIDIA by 884.0% during the second quarter. Legal & General Group Plc now owns 213,127,959 shares of the computer hardware maker’s stock worth $26,329,751,000 after buying an additional 191,469,114 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after acquiring an additional 6,526,200 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in NVIDIA by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock valued at $17,738,630,000 after acquiring an additional 2,042,348 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in shares of NVIDIA by 870.3% in the 2nd quarter. Ameriprise Financial Inc. now owns 102,422,225 shares of the computer hardware maker’s stock valued at $12,658,922,000 after acquiring an additional 91,867,031 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NVDA has been the topic of a number of research analyst reports. Redburn Atlantic began coverage on shares of NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 target price on the stock. The Goldman Sachs Group raised their price objective on NVIDIA from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Raymond James boosted their target price on NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a report on Thursday, November 14th. Needham & Company LLC raised their price target on NVIDIA from $145.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Finally, Wedbush upped their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $166.23.

NVIDIA Stock Up 3.1 %

NVDA stock opened at $128.68 on Friday. The stock has a market capitalization of $3.15 trillion, a P/E ratio of 50.64, a price-to-earnings-growth ratio of 2.16 and a beta of 1.62. 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 firm has a 50-day moving average price of $135.62 and a 200-day moving average price of $129.35. NVIDIA Co. has a 12 month low of $66.25 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results 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 firm had revenue of $35.08 billion for the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company’s quarterly revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the business posted $0.38 earnings per share. As a group, equities research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred 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 directly owns 28,671,360 shares in the company, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction 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 transaction, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,108,348 shares of company stock worth $146,506,958. 4.23% of the stock is currently owned by insiders.

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.