Bleakley Financial Group LLC Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Bleakley Financial Group LLC lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,243 shares of the computer hardware maker’s stock after purchasing an additional 306 shares during the period. NVIDIA comprises 0.8% of Bleakley Financial Group LLC’s investment portfolio, making the stock its 21st biggest position. Bleakley Financial Group LLC’s holdings in NVIDIA were worth $24,881,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of 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 purchasing an additional 2,287,471 shares in the last quarter. Geode Capital Management LLC boosted its position in NVIDIA by 0.6% during the first 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 during the last quarter. Morgan Stanley boosted its position in NVIDIA by 20.2% during the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $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 worth about $3,900,874,000. Finally, Northern Trust Corp boosted 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 worth $11,445,211,000 after acquiring an additional 910,009 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity

In other news, Director John Dabiri sold 128 shares of the firm’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 sale, the director now directly owns 2,055 shares in the company, valued at approximately $1,931,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Mark A. Stevens sold 22,700 shares of NVIDIA stock in a transaction on Friday, April 5th. The shares were sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the sale, the director now directly owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Dabiri sold 128 shares of the firm’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,278 shares of company stock worth $52,689,898. 3.99% of the stock is currently owned by corporate insiders.

NVIDIA Price Performance

Shares of NVDA opened at $860.01 on Tuesday. NVIDIA Co. has a twelve month low of $262.25 and a twelve month high of $974.00. The firm’s fifty day simple moving average is $834.27 and its 200-day simple moving average is $613.81. The firm has a market capitalization of $2.15 trillion, a price-to-earnings ratio of 72.03, a PEG ratio of 1.27 and a beta of 1.73. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business had revenue of $22.10 billion for the quarter, compared to analyst estimates of $20.40 billion. During the same period last year, the business earned $0.65 EPS. The company’s revenue was up 265.3% on a year-over-year basis. Equities analysts forecast that NVIDIA Co. will post 22.45 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company boosted their price target on shares of NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Sanford C. Bernstein boosted their price target on shares of NVIDIA from $700.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Bank of America boosted their price target on shares of NVIDIA from $925.00 to $1,100.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. TD Cowen boosted their target price on shares of NVIDIA from $900.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $910.00 target price on shares of NVIDIA in a report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus 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.