Steele Capital Management Inc. Takes Position in NVIDIA Co. (NASDAQ:NVDA)

Steele Capital Management Inc. bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent filing with the SEC. The fund bought 10,520 shares of the computer hardware maker’s stock, valued at approximately $5,210,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC increased its stake in shares of NVIDIA by 54,019.5% during 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 last quarter. Vanguard Group Inc. increased 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. California Public Employees Retirement System raised its stake in shares of NVIDIA by 31.8% in the fourth quarter. California Public Employees Retirement System now owns 7,477,385 shares of the computer hardware maker’s stock valued at $3,702,951,000 after buying an additional 1,805,763 shares during the period. J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of NVIDIA during the 3rd quarter valued at $728,543,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of NVIDIA by 99.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 2,384,968 shares of the computer hardware maker’s stock worth $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.

NVIDIA Stock Down 1.7 %

Shares of NASDAQ NVDA opened at $905.54 on Wednesday. The firm’s fifty day moving average is $872.36 and its 200 day moving average is $659.34. NVIDIA Co. has a 52 week low of $280.46 and a 52 week high of $974.00. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The company has a market cap of $2.26 trillion, a price-to-earnings ratio of 75.84, a PEG ratio of 1.27 and a beta of 1.75.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The firm had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.65 earnings per share. On average, equities research analysts expect that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Transactions at NVIDIA

In related news, Director John Dabiri sold 128 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 2,055 shares in the company, valued at $1,931,700. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction dated 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 $925,845,476.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Dabiri sold 128 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the sale, the director now owns 2,055 shares of the company’s stock, 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 insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on NVDA shares. Craig Hallum upped their price objective on shares of NVIDIA from $700.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Wells Fargo & Company raised their price objective on shares of NVIDIA from $840.00 to $970.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Morgan Stanley boosted their target price on shares of NVIDIA from $795.00 to $1,000.00 and gave the company an “overweight” rating in a report on Wednesday, April 10th. HSBC raised their price target on NVIDIA from $880.00 to $1,050.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Finally, Raymond James increased their price objective on NVIDIA from $850.00 to $1,100.00 and gave the stock a “strong-buy” rating in a report on Thursday, April 11th. Four equities research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $944.05.

NVIDIA Company 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.