Navellier & Associates Inc. Purchases 5,331 Shares of NVIDIA Co. (NASDAQ:NVDA)

Navellier & Associates Inc. boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 9.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,280 shares of the computer hardware maker’s stock after purchasing an additional 5,331 shares during the quarter. NVIDIA comprises approximately 4.5% of Navellier & Associates Inc.’s investment portfolio, making the stock its biggest position. Navellier & Associates Inc.’s holdings in NVIDIA were worth $29,852,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of NVDA. Kingsview Wealth Management LLC increased its stake in shares of NVIDIA by 13.4% during the fourth quarter. Kingsview Wealth Management LLC now owns 99,179 shares of the computer hardware maker’s stock worth $49,115,000 after purchasing an additional 11,749 shares during the period. Panagora Asset Management Inc. lifted its holdings in shares of NVIDIA by 3.4% during the fourth quarter. Panagora Asset Management Inc. now owns 950,810 shares of the computer hardware maker’s stock worth $470,860,000 after buying an additional 30,972 shares in the last quarter. Integrity Wealth Solutions LLC bought a new stake in shares of NVIDIA in the fourth quarter valued at about $1,661,000. Princeton Capital Management LLC increased its position in NVIDIA by 1.8% during the fourth quarter. Princeton Capital Management LLC now owns 41,679 shares of the computer hardware maker’s stock worth $20,640,000 after acquiring an additional 721 shares during the period. Finally, M. Kulyk & Associates LLC raised its stake in NVIDIA by 1.3% in the 4th quarter. M. Kulyk & Associates LLC now owns 24,433 shares of the computer hardware maker’s stock worth $12,100,000 after purchasing an additional 321 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the transaction, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Dabiri sold 128 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now owns 2,055 shares in the company, valued at approximately $1,931,700. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,278 shares of company stock valued at $52,689,898. 4.23% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently commented on NVDA. Sanford C. Bernstein raised their target price on shares of NVIDIA from $700.00 to $1,000.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. The Goldman Sachs Group upped their target price on NVIDIA from $1,000.00 to $1,100.00 and gave the company a “buy” rating in a research report on Tuesday, May 7th. Craig Hallum boosted their price target on NVIDIA from $700.00 to $850.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Bank of America upped their price objective on shares of NVIDIA from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. Finally, Tigress Financial raised their target price on shares of NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $1,002.18.

NVIDIA Stock Down 0.5 %

Shares of NVDA opened at $949.50 on Thursday. NVIDIA Co. has a 12 month low of $298.06 and a 12 month high of $974.00. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The company has a market capitalization of $2.34 trillion, a PE ratio of 79.52, a PEG ratio of 1.33 and a beta of 1.75. The stock’s 50-day moving average price is $886.29 and its two-hundred day moving average price is $696.36.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 EPS for the quarter, beating the consensus estimate of $5.14 by $0.98. The business had revenue of $26.04 billion for the quarter, compared to analysts’ expectations of $24.59 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm’s revenue was up 262.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. On average, analysts anticipate that NVIDIA Co. will post 23.18 EPS for the current year.

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 0.04%. This is an increase from NVIDIA’s previous quarterly dividend of $0.04. NVIDIA’s dividend payout ratio (DPR) is currently 1.34%.

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.