Bond & Devick Financial Network Inc. Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Bond & Devick Financial Network Inc. acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 445 shares of the computer hardware maker’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of NVDA. Vanguard Group Inc. increased its position in shares of NVIDIA by 1.1% during the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock worth $88,598,850,000 after acquiring an additional 2,287,471 shares during the last quarter. Geode Capital Management LLC increased its holdings in NVIDIA by 3.0% in the second quarter. Geode Capital Management LLC now owns 47,459,414 shares of the computer hardware maker’s stock valued at $20,022,108,000 after buying an additional 1,403,401 shares during the last quarter. Morgan Stanley increased its holdings in NVIDIA by 20.2% in the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock valued at $4,023,783,000 after buying an additional 4,621,002 shares during the last quarter. Norges Bank bought a new stake in NVIDIA in the fourth quarter valued at about $3,900,874,000. Finally, Northern Trust Corp increased its holdings in NVIDIA by 3.6% in the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after buying an additional 910,009 shares during the last quarter. Institutional investors and hedge funds own 64.79% of the company’s stock.

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 35,648 shares of the firm’s stock in a transaction on Wednesday, January 10th. The shares were sold at an average price of $542.93, for a total transaction of $19,354,368.64. Following the completion of the transaction, the director now owns 1,189,083 shares of the company’s stock, valued at $645,588,833.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $484.62, for a total transaction of $218,079.00. Following the transaction, the insider now directly owns 50,961 shares of the company’s stock, valued at $24,696,719.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 35,648 shares of the firm’s stock in a transaction dated Wednesday, January 10th. The shares were sold at an average price of $542.93, for a total transaction of $19,354,368.64. Following the transaction, the director now directly owns 1,189,083 shares in the company, valued at $645,588,833.19. The disclosure for this sale can be found here. Insiders sold a total of 104,774 shares of company stock valued at $64,322,528 in the last quarter. Insiders own 3.99% of the company’s stock.

NVIDIA Stock Up 1.1 %

Shares of NVDA stock opened at $893.98 on Wednesday. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The firm’s 50-day moving average is $721.23 and its 200-day moving average is $553.34. The stock has a market cap of $2.23 trillion, a price-to-earnings ratio of 74.87, a PEG ratio of 1.35 and a beta of 1.73. NVIDIA Co. has a 52-week low of $251.30 and a 52-week high of $974.00.

NVIDIA (NASDAQ:NVDAGet Free Report) last announced its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The firm had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same quarter in the prior year, the business posted $0.65 EPS. The business’s revenue was up 265.3% compared to the same quarter last year. Sell-side analysts predict that NVIDIA Co. will post 22.07 EPS for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th will be paid a $0.04 dividend. This represents a $0.16 annualized dividend and a yield of 0.02%. The ex-dividend date is Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

Wall Street Analyst Weigh In

Several research firms have recently commented on NVDA. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $900.00 target price on shares of NVIDIA in a report on Monday, March 4th. Deutsche Bank Aktiengesellschaft upped their target price on NVIDIA from $560.00 to $720.00 and gave the company a “hold” rating in a report on Thursday, February 22nd. Raymond James upped their target price on NVIDIA from $600.00 to $700.00 and gave the company a “strong-buy” rating in a report on Friday, January 19th. Truist Financial upped their target price on NVIDIA from $911.00 to $1,177.00 and gave the company a “buy” rating in a report on Monday. Finally, Edward Jones lowered NVIDIA from a “buy” rating to a “hold” rating in a report on Wednesday, November 22nd. Four investment analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $856.27.

View Our Latest Report on NVDA

NVIDIA Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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