Ferguson Wellman Capital Management Inc. Raises Stake in NVIDIA Co. (NASDAQ:NVDA)

Ferguson Wellman Capital Management Inc. increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,840,437 shares of the computer hardware maker’s stock after purchasing an additional 21,948 shares during the period. NVIDIA makes up 4.7% of Ferguson Wellman Capital Management Inc.’s investment portfolio, making the stock its 4th largest holding. Ferguson Wellman Capital Management Inc.’s holdings in NVIDIA were worth $247,152,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its holdings in NVIDIA by 12,898.6% during the third quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock valued at $6,836,220,000 after buying an additional 55,859,917 shares during the last quarter. Clear Street Derivatives LLC purchased a new stake in NVIDIA during the third quarter valued at approximately $4,589,905,000. Geode Capital Management LLC increased its holdings in NVIDIA by 2.2% during the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock valued at $66,101,133,000 after buying an additional 11,525,969 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings 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 valued at $21,908,236,000 after buying an additional 6,526,200 shares during the last quarter. Finally, National Pension Service increased its holdings in NVIDIA by 14.9% during the third quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock valued at $5,734,483,000 after buying an additional 6,118,674 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

Shares of NASDAQ NVDA opened at $108.76 on Wednesday. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13. The company has a 50 day simple moving average of $130.54 and a two-hundred day simple moving average of $131.42. The stock has a market cap of $2.65 trillion, a price-to-earnings ratio of 42.80, a PEG ratio of 1.76 and a beta of 1.77.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $38.16 billion. As a group, analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on NVDA shares. Phillip Securities reissued an “accumulate” rating and issued a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research note on Friday, November 22nd. Barclays increased their price objective on shares of NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Bank of America increased their price objective on shares of NVIDIA from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Truist Financial increased their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Finally, Redburn Atlantic began coverage on shares of NVIDIA in a research report on Tuesday, November 12th. They set a “buy” rating and a $178.00 target price for the company. Four analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, NVIDIA has an average rating of “Moderate Buy” and a consensus price target of $171.69.

Insider Activity

In other news, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total transaction of $608,760.00. Following the completion of the transaction, the insider now directly owns 480,899 shares of the company’s stock, valued at $65,056,016.72. The trade was a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of NVIDIA stock in a transaction that occurred on Monday, January 6th. The shares were 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 directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,107,632 shares of company stock valued at $146,405,286 in the last three months. 4.23% of the stock is currently owned by corporate 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.