Van ECK Associates Corp Boosts Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Van ECK Associates Corp boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 6.3% 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 5,325,750 shares of the computer hardware maker’s stock after purchasing an additional 317,082 shares during the quarter. NVIDIA comprises approximately 4.8% of Van ECK Associates Corp’s investment portfolio, making the stock its biggest position. Van ECK Associates Corp owned about 0.22% of NVIDIA worth $2,637,418,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of NVDA. Accurate Wealth Management LLC increased its position in NVIDIA by 17.3% during the third quarter. Accurate Wealth Management LLC now owns 8,045 shares of the computer hardware maker’s stock worth $3,538,000 after acquiring an additional 1,185 shares during the period. Balboa Wealth Partners boosted its stake in shares of NVIDIA by 7.6% in the third quarter. Balboa Wealth Partners now owns 41,256 shares of the computer hardware maker’s stock valued at $17,946,000 after buying an additional 2,925 shares during the period. Ulland Investment Advisors LLC grew its position in NVIDIA by 241.1% during the third quarter. Ulland Investment Advisors LLC now owns 5,137 shares of the computer hardware maker’s stock worth $2,235,000 after buying an additional 3,631 shares in the last quarter. Vicus Capital increased its stake in NVIDIA by 37.1% during the 3rd quarter. Vicus Capital now owns 7,521 shares of the computer hardware maker’s stock worth $3,272,000 after acquiring an additional 2,036 shares during the period. Finally, First Pacific Financial raised its holdings in NVIDIA by 38.4% in the 3rd quarter. First Pacific Financial now owns 479 shares of the computer hardware maker’s stock valued at $208,000 after acquiring an additional 133 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Trading Down 0.2 %

Shares of NVDA stock opened at $904.12 on Thursday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The company has a 50 day moving average of $872.36 and a 200-day moving average of $659.34. NVIDIA Co. has a 12-month low of $280.46 and a 12-month high of $974.00. The firm has a market cap of $2.26 trillion, a P/E ratio of 75.72, a PEG ratio of 1.27 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company’s quarterly revenue was up 265.3% on a year-over-year basis. During the same quarter last year, the business earned $0.65 earnings per share. Sell-side analysts anticipate that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NVDA. Wells Fargo & Company raised their price target on NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. UBS Group raised their price objective on shares of NVIDIA from $1,100.00 to $1,150.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. DA Davidson upped their price target on shares of NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Oppenheimer lifted their target price on NVIDIA from $850.00 to $1,100.00 and gave the stock an “outperform” rating in a report on Wednesday, March 20th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of NVIDIA from $720.00 to $850.00 and gave the stock a “hold” rating in a research report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $944.05.

Insiders Place Their Bets

In other news, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the sale, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Dabiri sold 128 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the sale, 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. Insiders sold a total of 61,278 shares of company stock valued at $52,689,898 in the last quarter. Corporate insiders own 3.99% of the company’s stock.

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.