Byrne Asset Management LLC Increases Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Byrne Asset Management LLC increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,260 shares of the computer hardware maker’s stock after buying an additional 58 shares during the period. Byrne Asset Management LLC’s holdings in NVIDIA were worth $1,117,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA purchased a new position in NVIDIA during the fourth quarter worth about $28,000. Peoples Financial Services CORP. purchased a new position in NVIDIA during the third quarter worth about $30,000. Your Advocates Ltd. LLP purchased a new position in NVIDIA during the third quarter worth about $30,000. Quarry LP purchased a new position in NVIDIA during the first quarter worth about $34,000. Finally, Compass Wealth Management LLC purchased a new position in NVIDIA during the fourth quarter worth about $39,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Stock Down 10.0 %

NVDA stock opened at $762.00 on Friday. The firm has a market cap of $1.91 trillion, a PE ratio of 63.82, a P/E/G ratio of 1.22 and a beta of 1.73. NVIDIA Co. has a 12 month low of $262.25 and a 12 month high of $974.00. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The firm has a 50 day simple moving average of $844.71 and a 200 day simple moving average of $623.54.

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

NVIDIA Announces Dividend

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

Insider Activity at NVIDIA

In other news, Director Mark A. Stevens sold 22,700 shares of the firm’s 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Mark A. Stevens sold 11,000 shares of the stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $905.65, for a total transaction of $9,962,150.00. Following the transaction, the director now owns 1,074,833 shares of the company’s stock, valued at approximately $973,422,506.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark A. Stevens sold 22,700 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the transaction, the director now directly owns 1,052,133 shares in the company, valued at $925,845,476.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,278 shares of company stock valued at $52,689,898. Insiders own 3.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NVDA. Tigress Financial lifted their target price on shares of NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a research note on Thursday, February 29th. Cantor Fitzgerald reissued an “overweight” rating and issued a $900.00 price target on shares of NVIDIA in a research note on Monday, March 4th. Piper Sandler Companies boosted their price target on shares of NVIDIA to $850.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. UBS Group lifted their price objective on shares of NVIDIA from $800.00 to $1,100.00 and gave the company a “buy” rating in a report on Friday, March 22nd. Finally, Wolfe Research boosted their price target on shares of NVIDIA from $630.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $940.30.

NVIDIA 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.