TrueNorth Inc. Purchases New Holdings in NVIDIA Co. (NVDA)

TrueNorth Inc. bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,631 shares of the computer hardware maker’s stock, valued at approximately $2,444,000. NVIDIA makes up approximately 1.1% of TrueNorth Inc.’s investment portfolio, making the stock its 28th largest position.

Several other hedge funds also recently added to or reduced their stakes in the company. Welch Investments LLC acquired a new position in NVIDIA during the third quarter worth about $104,000. Country Trust Bank boosted its position in NVIDIA by 490.0% during the fourth quarter. Country Trust Bank now owns 590 shares of the computer hardware maker’s stock worth $114,000 after acquiring an additional 490 shares during the last quarter. Global Trust Asset Management LLC acquired a new position in NVIDIA during the fourth quarter worth about $116,000. North Star Investment Management Corp. boosted its position in NVIDIA by 67.3% during the fourth quarter. North Star Investment Management Corp. now owns 634 shares of the computer hardware maker’s stock worth $123,000 after acquiring an additional 255 shares during the last quarter. Finally, Edge Advisors LLC boosted its position in NVIDIA by 98.8% during the third quarter. Edge Advisors LLC now owns 835 shares of the computer hardware maker’s stock worth $149,000 after acquiring an additional 415 shares during the last quarter. 62.70% of the stock is owned by institutional investors and hedge funds.

Shares of NVIDIA Co. (NASDAQ:NVDA) traded up $8.74 during trading hours on Wednesday, hitting $241.37. 16,490,000 shares of the company’s stock were exchanged, compared to its average volume of 16,930,000. NVIDIA Co. has a 52 week low of $95.17 and a 52 week high of $249.27. The company has a debt-to-equity ratio of 0.27, a quick ratio of 7.34 and a current ratio of 8.03. The stock has a market cap of $146,270.00, a P/E ratio of 49.97, a PEG ratio of 3.71 and a beta of 1.43.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Thursday, February 8th. The computer hardware maker reported $1.72 EPS for the quarter, beating the Zacks’ consensus estimate of $1.16 by $0.56. NVIDIA had a net margin of 31.36% and a return on equity of 45.02%. The company had revenue of $2.91 billion for the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the firm posted $1.13 EPS. The company’s quarterly revenue was up 34.0% compared to the same quarter last year. research analysts expect that NVIDIA Co. will post 6 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Shareholders of record on Friday, February 23rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date of this dividend is Thursday, February 22nd. NVIDIA’s dividend payout ratio is presently 12.42%.

A number of research firms recently weighed in on NVDA. BidaskClub upgraded shares of NVIDIA from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 11th. Susquehanna Bancshares reiterated a “neutral” rating and issued a $200.00 target price (up from $185.00) on shares of NVIDIA in a report on Thursday, February 8th. Stifel Nicolaus boosted their target price on shares of NVIDIA from $184.00 to $220.00 and gave the company a “hold” rating in a report on Friday, February 9th. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of NVIDIA from a “hold” rating to a “buy” rating and set a $262.00 target price on the stock in a report on Wednesday, January 24th. Finally, Jefferies Group boosted their target price on shares of NVIDIA from $15.50 to $300.00 and gave the company a “buy” rating in a report on Friday, February 9th. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. NVIDIA has an average rating of “Buy” and a consensus price target of $210.67.

In related news, Director Mark L. Perry sold 17,307 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $227.93, for a total value of $3,944,784.51. Following the transaction, the director now directly owns 30,762 shares of the company’s stock, valued at approximately $7,011,582.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Colette Kress sold 171 shares of the stock in a transaction on Thursday, December 14th. The shares were sold at an average price of $185.57, for a total transaction of $31,732.47. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,165 shares of company stock worth $4,970,569. Insiders own 5.17% of the company’s stock.

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About NVIDIA

Nvidia Corporation focuses on personal computer (PC) graphics, graphics processing unit (GPU) and also on artificial intelligence (AI). The Company’s operates through two segments: GPU and Tegra Processor. The Company’s GPU product brands are aimed at specialized markets, including GeForce for gamers; Quadro for designers; Tesla and DGX for AI data scientists and big data researchers; and GRID for cloud-based visual computing users.

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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