Strategic Financial Concepts LLC Buys 4,305,245 Shares of NVIDIA Co. (NASDAQ:NVDA)

Strategic Financial Concepts LLC boosted its position in NVIDIA Co. (NASDAQ:NVDA) by 15,399.0% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,333,203 shares of the computer hardware maker’s stock after purchasing an additional 4,305,245 shares during the period. NVIDIA comprises 1.1% of Strategic Financial Concepts LLC’s holdings, making the stock its 19th largest position. Strategic Financial Concepts LLC’s holdings in NVIDIA were worth $581,906,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in NVDA. Palisade Asset Management LLC increased its position in shares of NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the period. Blue Square Asset Management LLC grew its holdings in NVIDIA by 26.7% during the 3rd quarter. Blue Square Asset Management LLC now owns 48,093 shares of the computer hardware maker’s stock worth $5,840,000 after acquiring an additional 10,136 shares during the last quarter. Narwhal Capital Management lifted its holdings in NVIDIA by 5.1% during the 3rd quarter. Narwhal Capital Management now owns 545,676 shares of the computer hardware maker’s stock worth $66,267,000 after buying an additional 26,373 shares during the period. Tybourne Capital Management HK Ltd. increased its position in NVIDIA by 46.7% during the 3rd quarter. Tybourne Capital Management HK Ltd. now owns 16,826 shares of the computer hardware maker’s stock valued at $2,043,000 after purchasing an additional 5,360 shares during the period. Finally, Unique Wealth LLC lifted its holdings in NVIDIA by 10.0% in the fourth quarter. Unique Wealth LLC now owns 37,629 shares of the computer hardware maker’s stock valued at $5,053,000 after buying an additional 3,428 shares during the period. 65.27% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NVDA shares. Wells Fargo & Company raised their price target on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Citigroup raised their target price on NVIDIA from $170.00 to $175.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Bank of America boosted their target price on NVIDIA from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, February 27th. Evercore ISI boosted their target price on shares of NVIDIA from $189.00 to $190.00 and gave the company an “outperform” rating in a report on Thursday, November 21st. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a research note on Thursday, February 27th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $171.69.

Insider Buying and Selling

In other news, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Tench Coxe sold 1,000,000 shares of the business’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $131.26, for a total value of $131,260,000.00. Following the completion of the transaction, the director now owns 28,671,360 shares in the company, valued at $3,763,402,713.60. This trade represents a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,107,632 shares of company stock worth $146,405,286 in the last ninety days. 4.23% of the stock is currently owned by corporate insiders.

NVIDIA Trading Up 1.9 %

NASDAQ:NVDA opened at $112.69 on Friday. NVIDIA Co. has a one year low of $75.61 and a one year high of $153.13. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The stock has a market cap of $2.75 trillion, a price-to-earnings ratio of 44.35, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The business’s 50-day simple moving average is $131.66 and its 200 day simple moving average is $131.63.

NVIDIA (NASDAQ:NVDA) last issued its earnings results 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. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm had revenue of $39.33 billion for the quarter, compared to analysts’ expectations of $38.16 billion. As a group, sell-side analysts predict that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.04%. NVIDIA’s dividend payout ratio is currently 1.36%.

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.