CAPROCK Group Inc. Buys 4,023 Shares of NVIDIA Co. (NASDAQ:NVDA)

CAPROCK Group Inc. increased its holdings in NVIDIA Co. (NASDAQ:NVDAGet Rating) by 10.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,733 shares of the computer hardware maker’s stock after acquiring an additional 4,023 shares during the period. NVIDIA comprises approximately 1.1% of CAPROCK Group Inc.’s portfolio, making the stock its 16th biggest holding. CAPROCK Group Inc.’s holdings in NVIDIA were worth $11,661,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in NVIDIA by 2.1% during the fourth quarter. BlackRock Inc. now owns 177,839,722 shares of the computer hardware maker’s stock valued at $52,304,441,000 after purchasing an additional 3,591,440 shares during the period. Geode Capital Management LLC grew its holdings in NVIDIA by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 41,888,133 shares of the computer hardware maker’s stock valued at $12,287,340,000 after purchasing an additional 1,505,461 shares during the period. Northern Trust Corp grew its holdings in NVIDIA by 0.3% during the fourth quarter. Northern Trust Corp now owns 28,364,911 shares of the computer hardware maker’s stock valued at $8,342,404,000 after purchasing an additional 88,332 shares during the period. Norges Bank bought a new position in NVIDIA during the fourth quarter valued at $6,279,217,000. Finally, UBS Asset Management Americas Inc. grew its holdings in NVIDIA by 296.4% during the third quarter. UBS Asset Management Americas Inc. now owns 13,108,247 shares of the computer hardware maker’s stock valued at $2,715,504,000 after purchasing an additional 9,801,806 shares during the period. 55.19% of the stock is owned by institutional investors.

Shares of NASDAQ:NVDA opened at $163.60 on Thursday. The stock’s 50-day moving average price is $182.37 and its 200-day moving average price is $232.99. NVIDIA Co. has a 12-month low of $153.28 and a 12-month high of $346.47. The stock has a market capitalization of $409 billion, a P/E ratio of 43.86, a price-to-earnings-growth ratio of 2.13 and a beta of 1.59. The company has a current ratio of 5.32, a quick ratio of 4.75 and a debt-to-equity ratio of 0.42.

NVIDIA (NASDAQ:NVDAGet Rating) last announced its quarterly earnings data on Wednesday, May 25th. The computer hardware maker reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.07. NVIDIA had a return on equity of 43.81% and a net margin of 32.02%. The firm had revenue of $8.29 billion for the quarter, compared to analysts’ expectations of $8.09 billion. During the same period last year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 46.4% compared to the same quarter last year. As a group, research analysts predict that NVIDIA Co. will post 4.54 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Stockholders of record on Thursday, June 9th will be paid a dividend of $0.04 per share. The ex-dividend date is Wednesday, June 8th. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.10%. NVIDIA’s dividend payout ratio (DPR) is currently 4.29%.

Several brokerages have weighed in on NVDA. Tigress Financial increased their price objective on NVIDIA from $400.00 to $410.00 and gave the company a “buy” rating in a report on Tuesday, March 29th. Cowen dropped their target price on NVIDIA from $350.00 to $265.00 and set an “outperform” rating on the stock in a research report on Thursday, May 26th. Piper Sandler dropped their target price on NVIDIA from $350.00 to $250.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 25th. Benchmark restated a “buy” rating and set a $228.00 target price (down previously from $365.00) on shares of NVIDIA in a research report on Thursday, May 26th. Finally, Atlantic Securities dropped their target price on NVIDIA to $205.00 in a research report on Thursday, May 26th. Seven equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $270.97.

In related news, Director Tench Coxe sold 100,000 shares of the firm’s stock in a transaction dated Monday, March 28th. The stock was sold at an average price of $274.06, for a total value of $27,406,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John Dabiri sold 2,200 shares of the firm’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $185.59, for a total value of $408,298.00. Following the completion of the sale, the director now directly owns 2,712 shares in the company, valued at $503,320.08. The disclosure for this sale can be found here. Insiders have sold 239,694 shares of company stock worth $50,256,524 over the last ninety days. Insiders own 4.04% of the company’s stock.

NVIDIA Company Profile (Get Rating)

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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