Evanson Asset Management LLC Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Evanson Asset Management LLC raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 20.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,639 shares of the computer hardware maker’s stock after buying an additional 452 shares during the quarter. Evanson Asset Management LLC’s holdings in NVIDIA were worth $1,116,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in NVIDIA by 9.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after purchasing an additional 5,043,685 shares during the period. Geode Capital Management LLC boosted its stake in NVIDIA by 0.6% in the first quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock valued at $12,763,663,000 after acquiring an additional 267,061 shares during the period. Morgan Stanley raised its holdings in shares of NVIDIA by 20.2% during 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 during the fourth quarter worth approximately $3,900,874,000. Finally, Bank of New York Mellon Corp raised its holdings in NVIDIA by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 21,702,416 shares of the computer hardware maker’s stock worth $6,028,280,000 after purchasing an additional 322,662 shares in the last quarter. Institutional investors and hedge funds own 64.79% of the company’s stock.

Insider Buying and Selling at NVIDIA

In related news, Director Mark A. Stevens sold 21,500 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the sale, the director now owns 1,030,786 shares in the company, valued at $482,490,310.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other NVIDIA news, Director Mark A. Stevens sold 21,500 shares of NVIDIA stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $468.08, for a total transaction of $10,063,720.00. Following the completion of the sale, the director now directly owns 1,030,786 shares in the company, valued at $482,490,310.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jen Hsun Huang sold 29,688 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the completion of the sale, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at $3,678,148,943.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 145,515 shares of company stock valued at $67,726,231. Corporate insiders own 3.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Bank of America lifted their price objective on shares of NVIDIA from $550.00 to $650.00 and gave the stock a “buy” rating in a research report on Thursday, August 24th. Wedbush increased their price target on shares of NVIDIA from $490.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. TD Cowen raised their price objective on shares of NVIDIA from $500.00 to $600.00 and gave the stock an “outperform” rating in a report on Thursday, August 24th. UBS Group raised their price target on shares of NVIDIA from $540.00 to $560.00 and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, Daiwa Capital Markets raised shares of NVIDIA from a “neutral” rating to an “outperform” rating and raised their price target for the company from $408.00 to $475.00 in a report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirty-six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $555.70.

NVIDIA Stock Up 0.2 %

NVIDIA stock opened at $439.66 on Tuesday. The firm has a market capitalization of $1.09 trillion, a PE ratio of 106.20, a P/E/G ratio of 3.44 and a beta of 1.74. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37. The company’s 50-day moving average is $455.24 and its 200-day moving average is $366.89. NVIDIA Co. has a fifty-two week low of $108.13 and a fifty-two week high of $502.66.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 earnings per share for the quarter, topping analysts’ consensus estimates of $2.08 by $0.62. NVIDIA had a net margin of 31.59% and a return on equity of 45.50%. The company had revenue of $13.51 billion during the quarter, compared to the consensus estimate of $11.19 billion. During the same quarter in the prior year, the firm posted $0.32 EPS. The firm’s quarterly revenue was up 101.5% on a year-over-year basis. Sell-side analysts anticipate that NVIDIA Co. will post 9.46 earnings per share for the current year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 28th. Investors of record on Thursday, September 7th will be paid a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a yield of 0.04%. The ex-dividend date is Wednesday, September 6th. NVIDIA’s dividend payout ratio is presently 3.86%.

NVIDIA Company Profile

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.