Naples Money Management LLC Invests $6.09 Million in NVIDIA Co. (NASDAQ:NVDA)

Naples Money Management LLC bought a new stake in NVIDIA Co. (NASDAQ:NVDA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 12,290 shares of the computer hardware maker’s stock, valued at approximately $6,086,000. NVIDIA accounts for about 5.7% of Naples Money Management LLC’s portfolio, making the stock its 2nd largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of NVIDIA by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after acquiring an additional 2,287,471 shares during the last quarter. Northern Trust Corp lifted its position in NVIDIA by 3.6% during the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after purchasing an additional 910,009 shares during the period. International Assets Investment Management LLC boosted its holdings in NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in NVIDIA by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 13,197,744 shares of the computer hardware maker’s stock worth $5,740,887,000 after purchasing an additional 77,089 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of NVIDIA by 2.0% during the 3rd quarter. Wellington Management Group LLP now owns 10,544,759 shares of the computer hardware maker’s stock valued at $4,586,865,000 after buying an additional 209,085 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the topic of several analyst reports. Raymond James raised their target price on NVIDIA from $850.00 to $1,100.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 11th. Benchmark reaffirmed a “buy” rating and set a $1,000.00 target price on shares of NVIDIA in a report on Wednesday, March 20th. Susquehanna reissued a “positive” rating and set a $1,050.00 price target on shares of NVIDIA in a report on Thursday, April 4th. Wolfe Research lifted their price objective on shares of NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a report on Thursday, February 22nd. Finally, HSBC increased their target price on shares of NVIDIA from $880.00 to $1,050.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $940.30.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $877.35 on Monday. The company’s 50-day moving average is $854.40 and its two-hundred day moving average is $637.76. The firm has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 73.48, a PEG ratio of 1.26 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. NVIDIA Co. has a 1-year low of $266.25 and a 1-year high of $974.00.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The firm had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm’s quarterly revenue was up 265.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.65 earnings per share. Analysts forecast that NVIDIA Co. will post 22.55 EPS for the current year.

NVIDIA Announces Dividend

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

Insider Activity at NVIDIA

In other NVIDIA news, Director John Dabiri sold 128 shares of the stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the transaction, the director now owns 2,055 shares of the company’s stock, valued at $1,931,700. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the sale, the director now directly owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 128 shares of the business’s stock in a transaction on Monday, March 25th. The shares were 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 owns 2,055 shares in the company, valued at approximately $1,931,700. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,278 shares of company stock worth $52,689,898. Company 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.