Old North State Wealth Management LLC Raises Stock Position in NVIDIA Co. (NASDAQ:NVDA)
Old North State Wealth Management LLC grew its holdings in NVIDIA Co. (NASDAQ:NVDA – Free Report) by 1.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 27,643 shares of the computer hardware maker’s stock after acquiring an additional 459 shares during the period. NVIDIA comprises approximately 2.1% of Old North State Wealth Management LLC’s portfolio, making the stock its 13th biggest holding. Old North State Wealth Management LLC’s holdings in NVIDIA were worth $3,713,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. International Assets Investment Management LLC boosted its stake in shares of NVIDIA by 12,898.6% during the 3rd quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after purchasing an additional 55,859,917 shares during the period. Clear Street Derivatives LLC purchased a new position in shares of NVIDIA during the 3rd quarter worth about $4,589,905,000. Geode Capital Management LLC boosted its stake 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of NVIDIA by 3.8% during the 3rd 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 purchasing an additional 6,526,200 shares during the period. Finally, National Pension Service boosted its stake in shares of NVIDIA by 14.9% during the 3rd quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock worth $5,734,483,000 after purchasing an additional 6,118,674 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at NVIDIA
In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction 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 sale, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. The trade was a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Ajay K. Puri sold 36,462 shares of the business’s 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 sale, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,107,632 shares of company stock worth $146,405,286 in the last three months. Insiders own 4.23% of the company’s stock.
NVIDIA Stock Performance
Shares of NVIDIA stock opened at $115.99 on Wednesday. The firm’s fifty day simple moving average is $133.19 and its 200-day simple moving average is $132.00. The stock has a market capitalization of $2.83 trillion, a price-to-earnings ratio of 45.65, a PEG ratio of 1.76 and a beta of 1.62. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $153.13. 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 (NASDAQ:NVDA – Get Free Report) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.36%.
Wall Street Analyst Weigh In
NVDA has been the subject of a number of recent analyst reports. Stifel Nicolaus lifted their price target on shares of NVIDIA from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. Raymond James lifted their price target on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Truist Financial boosted their price objective on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Robert W. Baird boosted their price objective on shares of NVIDIA from $150.00 to $190.00 and gave the company an “outperform” rating in a research report on Thursday, November 21st. Finally, Phillip Securities reissued an “accumulate” rating and issued a $160.00 price objective (up from $155.00) on shares of NVIDIA in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $169.62.
Check Out Our Latest Stock Report on NVDA
NVIDIA 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.
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