NVIDIA Co. (NASDAQ:NVDA) Stake Increased by Mackenzie Financial Corp

Mackenzie Financial Corp increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 796,406 shares of the computer hardware maker’s stock after acquiring an additional 24,949 shares during the quarter. Mackenzie Financial Corp’s holdings in NVIDIA were worth $394,396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NVDA. Lodestar Private Asset Management LLC boosted its holdings in shares of NVIDIA by 1.0% during the fourth quarter. Lodestar Private Asset Management LLC now owns 1,652 shares of the computer hardware maker’s stock valued at $818,000 after acquiring an additional 17 shares during the period. Campbell Newman Asset Management Inc. boosted its holdings in shares of NVIDIA by 0.6% during the fourth quarter. Campbell Newman Asset Management Inc. now owns 2,991 shares of the computer hardware maker’s stock valued at $1,481,000 after acquiring an additional 18 shares during the period. Aprio Wealth Management LLC lifted its holdings in NVIDIA by 1.8% in the fourth quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock worth $523,000 after purchasing an additional 19 shares during the period. Palumbo Wealth Management LLC lifted its holdings in NVIDIA by 0.7% in the fourth quarter. Palumbo Wealth Management LLC now owns 2,816 shares of the computer hardware maker’s stock worth $1,395,000 after purchasing an additional 19 shares during the period. Finally, Corundum Group Inc. lifted its holdings in NVIDIA by 0.8% in the fourth quarter. Corundum Group Inc. now owns 2,380 shares of the computer hardware maker’s stock worth $1,179,000 after purchasing an additional 19 shares during the period. Institutional investors own 65.27% of the company’s stock.

Analyst Ratings Changes

NVDA has been the subject of several research analyst reports. Craig Hallum upped their price objective on shares of NVIDIA from $700.00 to $850.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Wedbush reaffirmed an “outperform” rating and issued a $1,000.00 price objective on shares of NVIDIA in a report on Tuesday, March 19th. Evercore ISI initiated coverage on shares of NVIDIA in a report on Tuesday, April 16th. They issued an “outperform” rating and a $1,160.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of NVIDIA from $650.00 to $850.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Finally, KeyCorp upped their price objective on shares of NVIDIA from $1,100.00 to $1,200.00 and gave the stock an “overweight” rating in a report on Monday, April 8th. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and an average price target of $940.30.

NVIDIA Price Performance

Shares of NVDA opened at $824.23 on Wednesday. The company has a market capitalization of $2.06 trillion, a price-to-earnings ratio of 69.03, a P/E/G ratio of 1.09 and a beta of 1.73. NVIDIA Co. has a fifty-two week low of $262.25 and a fifty-two week high of $974.00. 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 business’s 50-day moving average is $848.22 and its 200-day moving average is $629.87.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. The company 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 firm’s quarterly revenue was up 265.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 EPS. Equities research analysts expect that NVIDIA Co. will post 22.55 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Insider Activity at NVIDIA

In related news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the sale, the director now directly owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is owned by corporate insiders.

About NVIDIA

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.