Baring Financial LLC Grows Stake in NVIDIA Co. (NASDAQ:NVDA)

Baring Financial LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 24.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,107 shares of the computer hardware maker’s stock after purchasing an additional 2,592 shares during the period. NVIDIA comprises 1.2% of Baring Financial LLC’s investment portfolio, making the stock its 26th biggest position. Baring Financial LLC’s holdings in NVIDIA were worth $1,421,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Hickory Point Bank & Trust purchased a new position in NVIDIA during the fourth quarter worth $2,272,000. Capital Performance Advisors LLP increased its position in NVIDIA by 59.3% during the fourth quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after buying an additional 9,944 shares in the last quarter. Waddell & Associates LLC increased its position in NVIDIA by 1.2% during the fourth quarter. Waddell & Associates LLC now owns 24,124 shares of the computer hardware maker’s stock worth $3,240,000 after buying an additional 297 shares in the last quarter. Strategy Asset Managers LLC increased its position in NVIDIA by 0.8% during the fourth quarter. Strategy Asset Managers LLC now owns 52,307 shares of the computer hardware maker’s stock worth $7,024,000 after buying an additional 405 shares in the last quarter. Finally, Ethos Financial Group LLC increased its position in NVIDIA by 24.1% during the fourth quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock worth $4,312,000 after buying an additional 6,241 shares in the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NVDA. Arete Research raised NVIDIA to a “strong-buy” rating in a research report on Wednesday, May 21st. Rosenblatt Securities raised their price objective on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, May 29th. Mizuho raised their price objective on NVIDIA from $168.00 to $170.00 and gave the stock an “outperform” rating in a report on Thursday, May 29th. DA Davidson raised their price objective on NVIDIA from $120.00 to $135.00 and gave the stock a “neutral” rating in a report on Thursday, May 29th. Finally, Citigroup restated a “buy” rating and set a $180.00 price objective (up previously from $150.00) on shares of NVIDIA in a report on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have issued a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA presently has a consensus rating of “Moderate Buy” and an average price target of $171.66.

Insider Activity

In other news, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $28,993,071.56. This represents a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 935,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the transaction, the director now directly owns 9,214,697 shares of the company’s stock, valued at $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,255,320 shares of company stock valued at $172,680,419. 4.17% of the stock is currently owned by insiders.

NVIDIA Stock Up 1.2%

Shares of NVIDIA stock opened at $141.72 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 firm has a market cap of $3.46 trillion, a P/E ratio of 55.77, a P/E/G ratio of 1.76 and a beta of 2.12. 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 price of $118.45 and a 200 day moving average price of $126.10.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.06). The firm had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s quarterly revenue was up 69.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.61 earnings per share. On average, sell-side analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

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

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.