NVIDIA Co. (NASDAQ:NVDA) Stock Position Increased by Byrne Asset Management LLC

Byrne Asset Management LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 5.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,380 shares of the computer hardware maker’s stock after purchasing an additional 120 shares during the quarter. NVIDIA comprises 1.5% of Byrne Asset Management LLC’s holdings, making the stock its 15th biggest position. Byrne Asset Management LLC’s holdings in NVIDIA were worth $2,150,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of NVDA. Vanguard Group Inc. raised its position in shares of NVIDIA by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 204,507,576 shares of the computer hardware maker’s stock worth $101,276,242,000 after buying an additional 827,377 shares in the last quarter. Norges Bank bought a new stake in shares of NVIDIA during the 4th quarter worth about $14,606,369,000. Northern Trust Corp raised its position in shares of NVIDIA by 3.6% during the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock worth $11,445,211,000 after buying an additional 910,009 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of NVIDIA by 54,019.5% during the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after buying an additional 16,835,703 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of NVIDIA by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 13,586,595 shares of the computer hardware maker’s stock worth $6,728,354,000 after buying an additional 388,851 shares in the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NVDA shares. Susquehanna restated a “positive” rating and set a $1,050.00 price target on shares of NVIDIA in a research report on Thursday, April 4th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $1,100.00 price objective on shares of NVIDIA in a research note on Tuesday, February 20th. Truist Financial lifted their price objective on shares of NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a research note on Monday, March 18th. Raymond James lifted their price objective on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock a “strong-buy” rating in a research note on Thursday, April 11th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $941.55.

NVIDIA Stock Performance

Shares of NVIDIA stock traded down $13.55 on Tuesday, reaching $864.02. The stock had a trading volume of 36,070,525 shares, compared to its average volume of 51,807,828. The business’s 50-day moving average price is $860.82 and its two-hundred day moving average price is $643.52. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. NVIDIA Co. has a fifty-two week low of $272.40 and a fifty-two week high of $974.00. The stock has a market cap of $2.16 trillion, a P/E ratio of 72.36, a price-to-earnings-growth ratio of 1.26 and a beta of 1.73.

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

NVIDIA Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s dividend payout ratio (DPR) is presently 1.34%.

Insider Buying and Selling at NVIDIA

In other news, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the transaction, the insider now owns 49,815 shares in the company, valued at approximately $45,412,350.30. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the transaction, the insider now owns 49,815 shares in the company, valued at approximately $45,412,350.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 5,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the completion of the transaction, the director now owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. 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 ninety days. Company insiders own 3.99% of the company’s stock.

NVIDIA Company 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.