Castleark Management LLC Grows Stock Position in NVIDIA Corporation $NVDA

Castleark Management LLC lifted its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 26.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,418,598 shares of the computer hardware maker’s stock after acquiring an additional 294,838 shares during the quarter. NVIDIA makes up 6.7% of Castleark Management LLC’s holdings, making the stock its 2nd biggest holding. Castleark Management LLC’s holdings in NVIDIA were worth $224,124,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in NVDA. Brighton Jones LLC raised its position in shares of NVIDIA by 12.4% in the 4th quarter. Brighton Jones LLC now owns 324,901 shares of the computer hardware maker’s stock worth $43,631,000 after acquiring an additional 35,815 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its position in shares of NVIDIA by 1.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 2,346,417 shares of the computer hardware maker’s stock valued at $315,100,000 after purchasing an additional 22,929 shares in the last quarter. Highview Capital Management LLC DE grew its stake in NVIDIA by 6.7% during the fourth quarter. Highview Capital Management LLC DE now owns 58,396 shares of the computer hardware maker’s stock worth $7,842,000 after purchasing an additional 3,653 shares during the period. Hudson Value Partners LLC increased its holdings in NVIDIA by 30.7% in the fourth quarter. Hudson Value Partners LLC now owns 50,658 shares of the computer hardware maker’s stock worth $6,805,000 after purchasing an additional 11,900 shares in the last quarter. Finally, Wealth Group Ltd. lifted its stake in NVIDIA by 15.7% in the first quarter. Wealth Group Ltd. now owns 6,598 shares of the computer hardware maker’s stock valued at $715,000 after buying an additional 896 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other NVIDIA news, Director Harvey C. Jones sold 250,000 shares of NVIDIA stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $176.21, for a total transaction of $44,052,500.00. Following the transaction, the director directly owned 7,183,280 shares of the company’s stock, valued at $1,265,765,768.80. The trade was a 3.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jen Hsun Huang sold 75,000 shares of the company’s stock in a transaction on Friday, September 26th. The stock was sold at an average price of $176.96, for a total transaction of $13,272,000.00. Following the completion of the sale, the chief executive officer owned 71,308,203 shares of the company’s stock, valued at approximately $12,618,699,602.88. The trade was a 0.11% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 2,829,474 shares of company stock valued at $512,805,367 in the last 90 days. Insiders own 4.17% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Zacks Research raised shares of NVIDIA from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 24th. HSBC set a $320.00 target price on shares of NVIDIA and gave the stock a “buy” rating in a research note on Wednesday, October 15th. Citigroup lifted their price target on shares of NVIDIA from $220.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. CICC Research increased their price objective on shares of NVIDIA from $200.00 to $228.00 and gave the stock an “outperform” rating in a research report on Friday, November 21st. Finally, Citic Securities raised their target price on NVIDIA from $237.00 to $242.00 and gave the company a “buy” rating in a research note on Thursday, November 20th. Four analysts have rated the stock with a Strong Buy rating, forty-six have given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $258.65.

NVIDIA Trading Down 3.3%

NVDA opened at $175.02 on Friday. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $212.19. The firm has a market capitalization of $4.25 trillion, a PE ratio of 43.43, a P/E/G ratio of 0.86 and a beta of 2.29. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.47 and a quick ratio of 3.71. The company’s 50-day moving average is $186.69 and its 200 day moving average is $173.81.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings data on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.07. The firm had revenue of $57.01 billion during the quarter, compared to analyst estimates of $54.66 billion. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The company’s revenue for the quarter was up 62.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.81 EPS. As a group, research analysts predict that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 4th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, December 4th. NVIDIA’s dividend payout ratio is presently 0.99%.

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.