Victory Capital Management Inc. Has $2.68 Billion Stake in NVIDIA Co. (NASDAQ:NVDA)

Victory Capital Management Inc. raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,934,635 shares of the computer hardware maker’s stock after acquiring an additional 64,594 shares during the period. NVIDIA makes up 2.6% of Victory Capital Management Inc.’s portfolio, making the stock its 2nd largest holding. Victory Capital Management Inc. owned approximately 0.08% of NVIDIA worth $2,677,022,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. DiNuzzo Private Wealth Inc. lifted its holdings in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker’s stock valued at $1,157,000 after purchasing an additional 71 shares during the last quarter. Smart Portfolios LLC increased its position in NVIDIA by 2.7% during the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after buying an additional 75 shares during the period. Palisade Asset Management LLC lifted its stake in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock valued at $1,866,000 after buying an additional 75 shares during the last quarter. Baker Boyer National Bank lifted its stake in NVIDIA by 3.3% in the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker’s stock valued at $323,000 after buying an additional 76 shares during the last quarter. Finally, Kwmg LLC boosted its holdings in shares of NVIDIA by 0.6% in the fourth quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker’s stock valued at $1,755,000 after acquiring an additional 77 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on NVDA shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research report on Wednesday, March 19th. TD Cowen reduced their target price on shares of NVIDIA from $175.00 to $140.00 and set a “buy” rating for the company in a report on Wednesday. DA Davidson decreased their target price on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a research note on Thursday, March 20th. Truist Financial boosted their price target on NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Finally, Summit Insights cut NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Six equities research analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $169.01.

Insiders Place Their Bets

In related news, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the transaction, the insider now owns 479,428 shares in the company, valued at approximately $55,997,190.40. This trade represents a 0.93 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock valued at $17,133,207 over the last ninety days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Up 18.7 %

NVIDIA stock opened at $114.33 on Thursday. The firm’s 50 day moving average price is $119.29 and its two-hundred day moving average price is $130.54. The firm has a market cap of $2.79 trillion, a PE ratio of 44.99, a P/E/G ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The firm had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. On average, research analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s payout ratio is presently 1.36%.

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.