First Manhattan CO. LLC. Acquires 345,528 Shares of NVIDIA Co. (NASDAQ:NVDA)

First Manhattan CO. LLC. increased its stake in NVIDIA Co. (NASDAQ:NVDA) by 26.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,647,027 shares of the computer hardware maker’s stock after purchasing an additional 345,528 shares during the period. First Manhattan CO. LLC.’s holdings in NVIDIA were worth $221,783,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Tacita Capital Inc acquired a new position in shares of NVIDIA during the fourth quarter worth $28,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA in the fourth quarter worth approximately $34,000. Vision Financial Markets LLC bought a new position in NVIDIA during the fourth quarter worth $38,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA in the fourth quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC bought a new position in shares of NVIDIA in the fourth quarter valued at $46,000. Institutional investors own 65.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. KeyCorp set a $190.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Rosenblatt Securities reduced their target price on shares of NVIDIA from $220.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Susquehanna reiterated a “positive” rating and set a $180.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Wedbush downgraded shares of NVIDIA from an “outperform” rating to a “cautious” rating in a report on Friday. Finally, Hsbc Global Res cut shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, April 3rd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have issued a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.53.

NVIDIA Stock Down 1.2%

NVIDIA stock opened at $131.29 on Monday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The company has a market capitalization of $3.21 trillion, a PE ratio of 51.67, a PEG ratio of 1.76 and a beta of 2.11. The firm’s fifty day moving average is $113.89 and its 200 day moving average is $126.65. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $195.95.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion during the quarter, compared to the consensus estimate of $38.16 billion. As a group, sell-side analysts predict that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, Director Aarti S. Shah sold 20,000 shares of the firm’s stock in a transaction on Thursday, March 20th. The shares were 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 directly owns 53,208 shares of the company’s stock, 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 at this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 147,147 shares of company stock worth $17,133,207 over the last three months. 4.17% of the stock is currently owned by 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.