NVIDIA Co. (NASDAQ:NVDA) Shares Purchased by Palisade Asset Management LLC

Palisade Asset Management LLC boosted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 0.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,363 shares of the computer hardware maker’s stock after buying an additional 75 shares during the quarter. Palisade Asset Management LLC’s holdings in NVIDIA were worth $1,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Algert Global LLC purchased a new position in shares of NVIDIA in the 3rd quarter valued at about $19,627,000. CMG Global Holdings LLC boosted its holdings in NVIDIA by 4.5% in the third quarter. CMG Global Holdings LLC now owns 10,731 shares of the computer hardware maker’s stock valued at $1,303,000 after purchasing an additional 463 shares in the last quarter. Canopy Partners LLC increased its stake in NVIDIA by 1.2% in the third quarter. Canopy Partners LLC now owns 49,294 shares of the computer hardware maker’s stock valued at $5,986,000 after purchasing an additional 567 shares during the last quarter. Cerity Partners LLC raised its holdings in NVIDIA by 21.1% during the third quarter. Cerity Partners LLC now owns 8,994,223 shares of the computer hardware maker’s stock worth $1,088,186,000 after purchasing an additional 1,564,194 shares in the last quarter. Finally, Optivise Advisory Services LLC purchased a new stake in shares of NVIDIA during the 3rd quarter worth approximately $1,588,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Barclays increased their target price on shares of NVIDIA from $145.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Truist Financial lifted their target price on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a research report on Tuesday, November 19th. JPMorgan Chase & Co. boosted their target price on NVIDIA from $155.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. DA Davidson raised their price target on NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Finally, Morgan Stanley boosted their price objective on NVIDIA from $150.00 to $160.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Four equities research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $164.63.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $142.00, for a total value of $101,672.00. Following the sale, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now owns 28,671,360 shares of the company’s stock, valued at approximately $3,763,402,713.60. This represents a 3.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,108,348 shares of company stock valued at $146,506,958. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Stock Performance

NVDA opened at $140.11 on Friday. The firm has a market cap of $3.43 trillion, a P/E ratio of 55.14, a price-to-earnings-growth ratio of 2.43 and a beta of 1.64. The business’s fifty day moving average is $139.89 and its 200-day moving average is $128.54. NVIDIA Co. has a 52-week low of $51.69 and a 52-week high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The firm had revenue of $35.08 billion for the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. During the same period in the prior year, the company posted $0.38 earnings per share. The business’s revenue for the quarter was up 93.6% on a year-over-year basis. Sell-side analysts expect that NVIDIA Co. will post 2.78 EPS for the current fiscal year.

NVIDIA Dividend Announcement

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

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.