Broyhill Asset Management Buys Shares of 7,650 NVIDIA Co. (NASDAQ:NVDA)

Broyhill Asset Management acquired a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 7,650 shares of the computer hardware maker’s stock, valued at approximately $1,027,000. NVIDIA comprises 0.9% of Broyhill Asset Management’s portfolio, making the stock its 27th largest position.

A number of other large investors have also modified their holdings of the stock. FMR LLC increased its position in shares of NVIDIA by 0.7% during the fourth quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker’s stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC increased its position in shares of NVIDIA by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker’s stock worth $74,439,273,000 after acquiring an additional 9,468,786 shares during the period. Norges Bank purchased a new stake in shares of NVIDIA during the fourth quarter worth $43,515,504,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after acquiring an additional 6,526,200 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of NVIDIA by 3.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 151,280,130 shares of the computer hardware maker’s stock worth $20,315,409,000 after acquiring an additional 5,211,040 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Barclays cut their price objective on NVIDIA from $175.00 to $155.00 and set an “overweight” rating on the stock in a research report on Tuesday, April 22nd. Truist Financial boosted their target price on shares of NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. KeyCorp set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Cantor Fitzgerald reiterated an “overweight” rating and set a $200.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Finally, Bank of America lowered their target price on shares of NVIDIA from $200.00 to $160.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $164.84.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director John Dabiri sold 2,663 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This trade represents a 13.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 147,147 shares of company stock valued at $17,133,207. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 5.4%

NASDAQ NVDA opened at $123.00 on Tuesday. The stock has a market capitalization of $3.01 trillion, a P/E ratio of 48.41, a P/E/G ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $195.95. The firm has a 50-day moving average price of $110.40 and a 200 day moving average price of $127.06. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. Equities research analysts expect that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were issued a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.36%.

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.