Suncoast Equity Management Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Suncoast Equity Management increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 0.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,535 shares of the computer hardware maker’s stock after purchasing an additional 441 shares during the quarter. NVIDIA accounts for 3.6% of Suncoast Equity Management’s investment portfolio, making the stock its 14th largest position. Suncoast Equity Management’s holdings in NVIDIA were worth $27,502,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Moody Lynn & Lieberson LLC grew its holdings in NVIDIA by 7.2% during the 3rd quarter. Moody Lynn & Lieberson LLC now owns 89,053 shares of the computer hardware maker’s stock valued at $38,737,000 after buying an additional 5,998 shares during the last quarter. TrueMark Investments LLC purchased a new stake in shares of NVIDIA during the fourth quarter worth about $2,639,000. McLean Asset Management Corp lifted its stake in shares of NVIDIA by 11.7% during the fourth quarter. McLean Asset Management Corp now owns 1,773 shares of the computer hardware maker’s stock valued at $871,000 after buying an additional 186 shares during the period. Cornercap Investment Counsel Inc. boosted its position in NVIDIA by 5.7% during the fourth quarter. Cornercap Investment Counsel Inc. now owns 3,900 shares of the computer hardware maker’s stock worth $1,931,000 after acquiring an additional 209 shares during the last quarter. Finally, Shilanski & Associates Inc. lifted its stake in shares of NVIDIA by 15.9% during the 4th quarter. Shilanski & Associates Inc. now owns 2,983 shares of the computer hardware maker’s stock worth $1,477,000 after purchasing an additional 410 shares during the period. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Trading Down 3.3 %

Shares of NASDAQ:NVDA opened at $796.77 on Thursday. The company has a 50 day moving average of $849.38 and a 200-day moving average of $631.03. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. The firm has a market cap of $1.99 trillion, a P/E ratio of 66.73, a P/E/G ratio of 1.14 and a beta of 1.73. NVIDIA Co. has a twelve month low of $262.25 and a twelve month high of $974.00.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, topping 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 company had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the company posted $0.65 EPS. The business’s revenue was up 265.3% compared to the same quarter last year. As a group, analysts anticipate that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were paid 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 was Tuesday, March 5th. NVIDIA’s dividend payout ratio is presently 1.34%.

Insider Buying and Selling

In other news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the completion of the sale, the director now directly owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total transaction of $7,975,700.00. Following the sale, the director now directly owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Mark A. Stevens sold 12,000 shares of the firm’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 completion of the sale, the director now directly 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 three months. 3.99% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several analyst reports. Mizuho upped their target price on NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Bank of America upped 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. Cantor Fitzgerald reissued an “overweight” rating and set a $900.00 price objective on shares of NVIDIA in a research note on Monday, March 4th. The Goldman Sachs Group upped their price objective on NVIDIA from $875.00 to $1,000.00 and gave the stock a “buy” rating in a report on Wednesday, March 20th. Finally, Oppenheimer lifted their target price on NVIDIA from $850.00 to $1,100.00 and gave the company an “outperform” rating in a report on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average 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.