Flynn Zito Capital Management LLC Boosts Stake in NVIDIA Co. (NASDAQ:NVDA)

Flynn Zito Capital Management LLC raised its position in NVIDIA Co. (NASDAQ:NVDA) by 8.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,303 shares of the computer hardware maker’s stock after purchasing an additional 97 shares during the period. Flynn Zito Capital Management LLC’s holdings in NVIDIA were worth $645,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of NVIDIA by 1.1% during 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 acquiring an additional 2,287,471 shares during the period. Northern Trust Corp increased its position in shares of NVIDIA by 3.6% during the third quarter. Northern Trust Corp now owns 26,311,434 shares of the computer hardware maker’s stock worth $11,445,211,000 after acquiring an additional 910,009 shares during the period. International Assets Investment Management LLC increased its position in shares of NVIDIA by 54,019.5% during the fourth 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 acquiring an additional 16,835,703 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of NVIDIA by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 13,197,744 shares of the computer hardware maker’s stock worth $5,740,887,000 after acquiring an additional 77,089 shares during the period. Finally, Wellington Management Group LLP increased its position in shares of NVIDIA by 2.0% during the third quarter. Wellington Management Group LLP now owns 10,544,759 shares of the computer hardware maker’s stock worth $4,586,865,000 after acquiring an additional 209,085 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVDA. Piper Sandler raised their target price on shares of NVIDIA from $850.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Tigress Financial raised their target price on shares of NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. CICC Research assumed coverage on shares of NVIDIA in a report on Wednesday, March 6th. They set an “outperform” rating and a $870.00 price objective on the stock. Mizuho lifted their price objective on shares of NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of NVIDIA from $720.00 to $850.00 and gave the company a “hold” rating in a report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $940.30.

NVIDIA Trading Up 6.2 %

Shares of NVIDIA stock opened at $877.35 on Friday. 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 fifty day moving average price of $854.40 and a 200 day moving average price of $636.58. NVIDIA Co. has a 1 year low of $266.25 and a 1 year high of $974.00. The stock has a market cap of $2.19 trillion, a PE ratio of 73.48, a price-to-earnings-growth ratio of 1.18 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data 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. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was up 265.3% on a year-over-year basis. Equities research analysts predict that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Dividend Announcement

The company 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. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s payout ratio is 1.34%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of NVIDIA stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the transaction, the insider now owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $800.74, for a total transaction of $4,003,700.00. Following the completion of the sale, the director now owns 1,119,583 shares of the company’s stock, valued at $896,494,891.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The disclosure for this sale can be found here. Over the last quarter, insiders sold 61,278 shares of company stock valued at $52,689,898. Corporate insiders own 3.99% of the company’s stock.

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.