Castle Wealth Management LLC Grows Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Castle Wealth Management LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,309 shares of the computer hardware maker’s stock after purchasing an additional 48 shares during the quarter. Castle Wealth Management LLC’s holdings in NVIDIA were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in shares of NVIDIA by 54,019.5% in the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Vanguard Group Inc. lifted its position in NVIDIA by 1.1% in 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 during the last quarter. J.P. Morgan Private Wealth Advisors LLC purchased a new position in NVIDIA during the third quarter worth $728,543,000. California Public Employees Retirement System increased its position in NVIDIA by 31.0% during the third quarter. California Public Employees Retirement System now owns 5,671,622 shares of the computer hardware maker’s stock valued at $2,467,099,000 after acquiring an additional 1,342,875 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of NVIDIA by 99.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,384,968 shares of the computer hardware maker’s stock valued at $1,037,437,000 after acquiring an additional 1,189,495 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Oppenheimer lifted their price target on shares of NVIDIA from $850.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Sanford C. Bernstein boosted their target price on NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a research report on Thursday, February 22nd. Truist Financial increased their price target on NVIDIA from $911.00 to $1,177.00 and gave the stock a “buy” rating in a report on Monday, March 18th. HSBC boosted their price objective on NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a report on Monday, March 18th. Finally, DA Davidson increased their target price on NVIDIA from $410.00 to $620.00 and gave the stock a “neutral” rating in a research note on Thursday, February 22nd. Four analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $940.30.

NVIDIA Stock Up 6.2 %

NVIDIA stock opened at $877.35 on Monday. NVIDIA Co. has a 1-year low of $266.25 and a 1-year high of $974.00. The business has a fifty day moving average price of $854.40 and a 200-day moving average price of $637.76. 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 stock has a market capitalization of $2.19 trillion, a price-to-earnings ratio of 73.48, a PEG ratio of 1.26 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.95. The business 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% on a year-over-year basis. During the same quarter last year, the company earned $0.65 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 22.55 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In related news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction 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 directly owns 1,052,133 shares of the company’s stock, valued at approximately $925,845,476.01. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, Director Mark A. Stevens sold 5,000 shares of NVIDIA stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the completion of the sale, the director now owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 22,700 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 61,278 shares of company stock valued at $52,689,898. Insiders own 3.99% of the company’s stock.

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.