Highland Capital Management LLC Bolsters Stock Holding in NVIDIA Co. (NASDAQ:NVDA)

Highland Capital Management LLC Bolsters Stock Holding in NVIDIA Co. (NASDAQ:NVDA)


Highland Capital Management LLC increased its stake in NVIDIA Co. (NASDAQ:NVDAFree Report) by 12.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 30,629 shares of the computer hardware maker’s stock after buying an additional 3,384 shares during the period. NVIDIA accounts for about 0.9% of Highland Capital Management LLC’s holdings, making the stock its 22nd largest holding. Highland Capital Management LLC’s holdings in NVIDIA were worth $15,168,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. RNC Capital Management LLC boosted its stake in NVIDIA by 3.2% during the 4th quarter. RNC Capital Management LLC now owns 18,936 shares of the computer hardware maker’s stock valued at $9,378,000 after purchasing an additional 588 shares during the last quarter. Family Legacy Inc. boosted its stake in NVIDIA by 12.6% during the 4th quarter. Family Legacy Inc. now owns 624 shares of the computer hardware maker’s stock valued at $309,000 after purchasing an additional 70 shares during the last quarter. J Arnold Wealth Management Co boosted its stake in NVIDIA by 6.3% during the 4th quarter. J Arnold Wealth Management Co now owns 26,586 shares of the computer hardware maker’s stock valued at $13,166,000 after purchasing an additional 1,585 shares during the last quarter. Cresta Advisors Ltd. boosted its stake in NVIDIA by 23.7% during the 4th quarter. Cresta Advisors Ltd. now owns 2,783 shares of the computer hardware maker’s stock valued at $1,378,000 after purchasing an additional 533 shares during the last quarter. Finally, Gemmer Asset Management LLC boosted its stake in NVIDIA by 0.9% during the 4th quarter. Gemmer Asset Management LLC now owns 23,538 shares of the computer hardware maker’s stock valued at $11,657,000 after purchasing an additional 203 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $484.62, for a total transaction of $218,079.00. Following the completion of the transaction, the insider now owns 50,961 shares in the company, valued at approximately $24,696,719.82. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $484.62, for a total value of $218,079.00. Following the completion of the sale, the insider now directly owns 50,961 shares in the company, valued at approximately $24,696,719.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director John Dabiri sold 128 shares of the company’s stock in a transaction on Monday, March 25th. The stock was sold at an average price of $940.00, for a total value of $120,320.00. Following 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. Insiders sold a total of 105,352 shares of company stock worth $64,853,077 in the last quarter. 3.99% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on NVDA shares. Sanford C. Bernstein increased their target price on NVIDIA from $700.00 to $1,000.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Piper Sandler upped their price objective on NVIDIA from $850.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Wednesday, March 20th. Tigress Financial boosted their price target on NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Piper Sandler Companies increased their price objective on shares of NVIDIA to $850.00 and gave the stock an “overweight” rating in a research note on Friday, February 16th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of NVIDIA from $720.00 to $850.00 and gave the company a “hold” rating in a research report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $908.68.

Check Out Our Latest Analysis on NVDA

NVIDIA Stock Performance

NASDAQ NVDA opened at $903.56 on Friday. The company has a market cap of $2.26 trillion, a P/E ratio of 75.68, a P/E/G ratio of 1.30 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The business’s 50 day moving average price is $772.45 and its 200-day moving average price is $574.01. NVIDIA Co. has a fifty-two week low of $262.20 and a fifty-two week high of $974.00.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion for 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 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 posted $0.65 EPS. Sell-side analysts predict that NVIDIA Co. will post 22.45 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. Investors of record on Wednesday, March 6th were issued a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s payout ratio is currently 1.34%.

NVIDIA Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)



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