Sandy Cove Advisors LLC Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Sandy Cove Advisors LLC boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 16.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,675 shares of the computer hardware maker’s stock after acquiring an additional 231 shares during the quarter. Sandy Cove Advisors LLC’s holdings in NVIDIA were worth $830,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Aprio Wealth Management LLC raised its position in shares of NVIDIA by 1.8% during the 4th quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock valued at $523,000 after acquiring an additional 19 shares in the last quarter. North Star Investment Management Corp. increased its position in NVIDIA by 0.3% in the fourth quarter. North Star Investment Management Corp. now owns 6,994 shares of the computer hardware maker’s stock worth $3,463,000 after buying an additional 20 shares during the period. LS Investment Advisors LLC increased its position in NVIDIA by 1.0% in the fourth quarter. LS Investment Advisors LLC now owns 2,120 shares of the computer hardware maker’s stock worth $1,050,000 after buying an additional 20 shares during the period. PCA Investment Advisory Services Inc. increased its position in NVIDIA by 2.5% in the third quarter. PCA Investment Advisory Services Inc. now owns 857 shares of the computer hardware maker’s stock worth $373,000 after buying an additional 21 shares during the period. Finally, IMPACTfolio LLC increased its position in NVIDIA by 4.1% in the fourth quarter. IMPACTfolio LLC now owns 529 shares of the computer hardware maker’s stock worth $262,000 after buying an additional 21 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Buying and Selling

In related news, Director John Dabiri sold 128 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the sale, the director now directly owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $484.62, for a total transaction of $218,079.00. Following the completion of the sale, the insider now directly owns 50,961 shares of the company’s stock, valued at approximately $24,696,719.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Dabiri sold 128 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following the sale, the director now directly owns 2,055 shares of the company’s stock, valued at $1,931,700. The disclosure for this sale can be found here. In the last ninety days, insiders sold 105,352 shares of company stock valued at $64,853,077. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Trading Up 0.1 %

NASDAQ:NVDA opened at $903.56 on Friday. The stock has a fifty day simple moving average of $765.80 and a 200 day simple moving average of $571.71. The firm has a market capitalization of $2.26 trillion, a price-to-earnings ratio of 75.68, a price-to-earnings-growth ratio of 1.33 and a beta of 1.73. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. NVIDIA Co. has a 1-year low of $262.20 and a 1-year high of $974.00.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s revenue for the quarter was up 265.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 EPS. Sell-side analysts forecast that NVIDIA Co. will post 22.45 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Wells Fargo & Company increased their target price on NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. HSBC increased their target price on NVIDIA from $880.00 to $1,050.00 and gave the stock a “buy” rating in a research report on Monday, March 18th. Piper Sandler increased their price target on NVIDIA from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Deutsche Bank Aktiengesellschaft increased their price target on NVIDIA from $720.00 to $850.00 and gave the stock a “hold” rating in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group increased their price target on NVIDIA from $610.00 to $780.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $908.68.

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.