Clark Capital Management Group Inc. Buys 32,394 Shares of NVIDIA Co. (NASDAQ:NVDA)

Clark Capital Management Group Inc. grew its stake in NVIDIA Co. (NASDAQ:NVDA) by 1.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,767,233 shares of the computer hardware maker’s stock after buying an additional 32,394 shares during the period. NVIDIA accounts for 1.7% of Clark Capital Management Group Inc.’s investment portfolio, making the stock its 6th largest holding. Clark Capital Management Group Inc.’s holdings in NVIDIA were worth $237,322,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Tacita Capital Inc purchased a new position in shares of NVIDIA in the 4th quarter valued at approximately $28,000. Legend Financial Advisors Inc. purchased a new stake in shares of NVIDIA during the fourth quarter worth approximately $34,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA during the fourth quarter worth $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA in the 4th quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC purchased a new position in NVIDIA in the 4th quarter valued at $46,000. Institutional investors and hedge funds own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on NVDA. Cantor Fitzgerald reissued an “overweight” rating and set a $200.00 price target on shares of NVIDIA in a report on Wednesday, April 16th. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research report on Wednesday, March 19th. Benchmark reissued a “buy” rating and issued a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Wedbush downgraded NVIDIA from an “outperform” rating to a “cautious” rating in a research note on Friday. Finally, Mizuho cut their price objective on NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, thirty-three have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat, NVIDIA currently has an average rating of “Moderate Buy” and a consensus price target of $167.53.

NVIDIA Price Performance

Shares of NASDAQ NVDA opened at $131.29 on Monday. The stock has a market cap of $3.21 trillion, a price-to-earnings ratio of 51.67, a PEG ratio of 1.76 and a beta of 2.11. 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 Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. The firm’s 50-day simple moving average is $113.89 and its 200 day simple moving average is $126.65.

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

NVIDIA Announces Dividend

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

Insider Transactions at NVIDIA

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $118.42, for a total value of $2,368,400.00. Following the completion of the transaction, the director now owns 53,208 shares in the company, valued at $6,300,891.36. This trade represents a 27.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the company’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 transaction of $292,930.00. Following the sale, the director now directly owns 17,279 shares in the company, valued at $1,900,690. This trade represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Insiders sold 147,147 shares of company stock worth $17,133,207 over the last quarter. Corporate insiders own 4.17% of the company’s stock.

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.