Canal Capital Management LLC Raises Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Canal Capital Management LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 5.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,247 shares of the computer hardware maker’s stock after acquiring an additional 529 shares during the period. Canal Capital Management LLC’s holdings in NVIDIA were worth $5,074,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in NVIDIA by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after purchasing an additional 2,287,471 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of NVIDIA by 0.6% during the first quarter. Geode Capital Management LLC now owns 46,056,013 shares of the computer hardware maker’s stock valued at $12,763,663,000 after acquiring an additional 267,061 shares in the last quarter. Morgan Stanley lifted its stake in NVIDIA by 20.2% in the fourth quarter. Morgan Stanley now owns 27,533,756 shares of the computer hardware maker’s stock worth $4,023,783,000 after acquiring an additional 4,621,002 shares during the period. Norges Bank bought a new stake in NVIDIA in the fourth quarter valued at $3,900,874,000. Finally, Northern Trust Corp increased its position in NVIDIA by 3.6% during the 3rd quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock valued at $11,445,211,000 after purchasing an additional 910,009 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Activity at NVIDIA

In other news, 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 value of $120,320.00. Following the transaction, the director now owns 2,055 shares of the company’s stock, valued at $1,931,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Mark A. Stevens sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $800.74, for a total value of $4,003,700.00. Following the completion of the transaction, the director now owns 1,119,583 shares of the company’s stock, valued at approximately $896,494,891.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director John Dabiri sold 128 shares of the stock in a transaction dated 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 approximately $1,931,700. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,278 shares of company stock worth $52,689,898. Corporate insiders own 3.99% of the company’s stock.

NVIDIA Stock Performance

Shares of NVDA opened at $881.86 on Friday. NVIDIA Co. has a one year low of $262.20 and a one year high of $974.00. The business has a fifty day moving average of $830.93 and a 200 day moving average of $608.17. 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 firm has a market capitalization of $2.20 trillion, a P/E ratio of 73.86, a PEG ratio of 1.31 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, beating the consensus estimate of $4.21 by $0.95. The firm had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business’s revenue for the quarter was up 265.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.65 EPS. As a group, sell-side analysts anticipate that NVIDIA Co. will post 22.45 EPS for the current year.

NVIDIA Announces Dividend

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 $0.04 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is 1.34%.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several research analyst reports. Mizuho raised their target price on shares of NVIDIA from $850.00 to $1,000.00 and gave the stock a “buy” rating in a research report on Thursday, March 7th. DA Davidson lifted their price objective on NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research report on Thursday, February 22nd. Tigress Financial upped their target price on NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a report on Thursday, February 29th. HSBC raised their target price on NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a research note on Monday, March 18th. Finally, Oppenheimer upped their price target on NVIDIA from $850.00 to $1,100.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 20th. Four investment 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $926.30.

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.