Forum Financial Management LP Increases Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

Forum Financial Management LP boosted its stake in NVIDIA Co. (NASDAQ:NVDA) by 28.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 189,998 shares of the computer hardware maker’s stock after buying an additional 41,757 shares during the quarter. NVIDIA makes up 0.4% of Forum Financial Management LP’s investment portfolio, making the stock its 20th largest holding. Forum Financial Management LP’s holdings in NVIDIA were worth $25,515,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Freedom Investment Management Inc. raised its holdings in NVIDIA by 1.4% during the 4th quarter. Freedom Investment Management Inc. now owns 85,295 shares of the computer hardware maker’s stock valued at $11,454,000 after acquiring an additional 1,214 shares during the period. Frederick Financial Consultants LLC purchased a new position in NVIDIA in the 4th quarter worth $2,227,000. Front Street Capital Management Inc. grew its position in NVIDIA by 24.1% during the 4th quarter. Front Street Capital Management Inc. now owns 9,506 shares of the computer hardware maker’s stock worth $1,278,000 after acquiring an additional 1,846 shares during the last quarter. Generation Capital Management LLC purchased a new position in shares of NVIDIA in the fourth quarter worth $3,019,000. Finally, GeoWealth Management LLC grew its stake in shares of NVIDIA by 0.7% in the fourth quarter. GeoWealth Management LLC now owns 195,335 shares of the computer hardware maker’s stock worth $26,232,000 after purchasing an additional 1,400 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Trading Up 0.5%

Shares of NVDA opened at $141.92 on Thursday. NVIDIA Co. has a fifty-two week low of $86.62 and a fifty-two week high of $195.95. The business has a 50-day moving average of $117.19 and a 200 day moving average of $126.42. The firm has a market cap of $3.46 trillion, a P/E ratio of 55.85, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. 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 issued its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same period last year, the company posted $0.61 EPS. The business’s revenue for the quarter was up 69.2% on a year-over-year basis. As a group, research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA’s dividend payout ratio (DPR) is currently 1.29%.

Insider Activity at NVIDIA

In related news, CFO Colette Kress sold 66,660 shares of the stock in a transaction dated Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now owns 3,085,765 shares in the company, valued at approximately $360,509,924.95. This trade represents a 2.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the business’s stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. This trade represents a 17.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,257,983 shares of company stock worth $172,973,349 over the last quarter. Corporate insiders own 4.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NVDA. Cantor Fitzgerald restated an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday, April 16th. Truist Financial increased their target price on NVIDIA from $205.00 to $210.00 and gave the company a “buy” rating in a report on Thursday, May 29th. HSBC downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 target price on the stock. in a research report on Thursday, April 3rd. KeyCorp set a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Barclays restated an “overweight” rating and set a $170.00 target price (up previously from $155.00) on shares of NVIDIA in a research report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have issued a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $171.66.

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.