Narwhal Capital Management Has $23.80 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Narwhal Capital Management increased its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 8.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 56,271 shares of the computer hardware maker’s stock after purchasing an additional 4,182 shares during the quarter. NVIDIA accounts for approximately 2.8% of Narwhal Capital Management’s investment portfolio, making the stock its 6th largest position. Narwhal Capital Management’s holdings in NVIDIA were worth $23,804,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Marquette Asset Management LLC acquired a new position in shares of NVIDIA in the second quarter valued at approximately $34,000. Nordwand Advisors LLC acquired a new stake in NVIDIA during the 1st quarter valued at approximately $28,000. MRP Capital Investments LLC acquired a new stake in NVIDIA during the 2nd quarter valued at approximately $42,000. Graham Capital Wealth Management LLC acquired a new stake in shares of NVIDIA during the 1st quarter worth approximately $311,102,000. Finally, Quarry LP acquired a new stake in shares of NVIDIA during the 1st quarter worth approximately $34,000. Institutional investors own 64.79% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, CEO Jen Hsun Huang sold 29,688 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the transaction, the chief executive officer now owns 7,800,125 shares of the company’s stock, valued at $3,678,148,943.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Colette Kress sold 4,980 shares of the business’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $460.74, for a total transaction of $2,294,485.20. Following the completion of the sale, the chief financial officer now directly owns 499,428 shares of the company’s stock, valued at approximately $230,106,456.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jen Hsun Huang sold 29,688 shares of NVIDIA stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $471.55, for a total transaction of $13,999,376.40. Following the transaction, the chief executive officer now owns 7,800,125 shares in the company, valued at approximately $3,678,148,943.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 145,232 shares of company stock valued at $67,606,089. 3.99% of the stock is currently owned by insiders.

NVIDIA Stock Performance

NASDAQ:NVDA opened at $450.05 on Monday. The firm has a market capitalization of $1.11 trillion, a PE ratio of 108.71, a price-to-earnings-growth ratio of 3.38 and a beta of 1.69. The business’s fifty day moving average price is $444.01 and its 200 day moving average price is $408.81. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.79 and a quick ratio of 2.37. NVIDIA Co. has a 12 month low of $136.97 and a 12 month high of $502.66.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, August 23rd. The computer hardware maker reported $2.70 EPS for the quarter, beating the consensus estimate of $2.08 by $0.62. The firm had revenue of $13.51 billion for the quarter, compared to analyst estimates of $11.19 billion. NVIDIA had a return on equity of 45.50% and a net margin of 31.59%. NVIDIA’s revenue for the quarter was up 101.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.32 earnings per share. On average, sell-side analysts anticipate that NVIDIA Co. will post 9.54 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 28th. Shareholders of record on Thursday, September 7th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.04%. The ex-dividend date was Wednesday, September 6th. NVIDIA’s payout ratio is 3.86%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Wedbush raised their price objective on shares of NVIDIA from $490.00 to $600.00 and gave the stock an “outperform” rating in a research report on Thursday, August 24th. Westpark Capital upgraded NVIDIA from a “hold” rating to a “buy” rating and set a $690.00 target price on the stock in a report on Thursday, August 24th. Deutsche Bank Aktiengesellschaft increased their target price on NVIDIA from $440.00 to $560.00 and gave the stock a “hold” rating in a report on Thursday, August 24th. Piper Sandler raised their price objective on NVIDIA from $500.00 to $620.00 and gave the company an “overweight” rating in a research note on Thursday, August 24th. Finally, Truist Financial raised their price objective on NVIDIA from $545.00 to $668.00 and gave the company a “buy” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirty-five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $556.83.

About NVIDIA

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.