Canal Capital Management LLC Has $5.07 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Canal Capital Management LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,247 shares of the computer hardware maker’s stock after buying an additional 529 shares during the period. Canal Capital Management LLC’s holdings in NVIDIA were worth $5,074,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in NVDA. Vanguard Group Inc. grew its stake in NVIDIA by 1.1% during the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock worth $88,598,850,000 after buying an additional 2,287,471 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of NVIDIA by 0.6% during the 1st quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock worth $12,763,663,000 after acquiring an additional 267,061 shares in the last quarter. Morgan Stanley increased its stake in NVIDIA by 20.2% in 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 acquiring an additional 4,621,002 shares during the last quarter. Norges Bank acquired a new position in NVIDIA during the fourth quarter valued at approximately $3,900,874,000. Finally, Northern Trust Corp lifted its stake 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 worth $11,445,211,000 after purchasing an additional 910,009 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Down 2.7 %

Shares of NASDAQ:NVDA opened at $881.86 on Friday. The firm has a market cap of $2.20 trillion, a P/E ratio of 73.86, a PEG ratio of 1.31 and a beta of 1.73. NVIDIA Co. has a 52-week low of $262.20 and a 52-week high of $974.00. The business’s 50 day simple moving average is $830.93 and its two-hundred day simple moving average is $608.17. 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 (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. The company 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%. NVIDIA’s quarterly revenue was up 265.3% compared to the same quarter last year. During the same period last year, the business earned $0.65 EPS. As a group, research analysts forecast that NVIDIA Co. will post 22.45 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Buying and Selling

In other NVIDIA news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the completion of the transaction, the director now owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $879.97, for a total value of $19,975,319.00. Following the transaction, the director now owns 1,052,133 shares in the company, valued at $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 12,000 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $853.54, for a total value of $10,242,480.00. Following the sale, the director now owns 1,107,583 shares of the company’s stock, valued at approximately $945,366,393.82. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock worth $52,689,898 in the last quarter. Insiders own 3.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. UBS Group upped their price objective on NVIDIA from $800.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Friday, March 22nd. Benchmark restated a “buy” rating and issued a $1,000.00 price target on shares of NVIDIA in a research note on Wednesday, March 20th. The Goldman Sachs Group upped their price objective on shares of NVIDIA from $875.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Wedbush restated an “outperform” rating and issued a $1,000.00 target price on shares of NVIDIA in a research report on Tuesday, March 19th. Finally, Wells Fargo & Company upped their price target on shares of NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $926.30.

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.