bLong Financial LLC Takes Position in NVIDIA Co. (NASDAQ:NVDA)

bLong Financial LLC bought a new position in shares of NVIDIA Co. (NASDAQ:NVDA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 168,707 shares of the computer hardware maker’s stock, valued at approximately $22,656,000. NVIDIA comprises about 18.7% of bLong Financial LLC’s portfolio, making the stock its 2nd biggest holding.

A number of other large investors have also added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in NVIDIA by 2.2% during the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after buying an additional 11,525,969 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after acquiring an additional 6,526,200 shares during the period. Charles Schwab Investment Management Inc. increased its position in NVIDIA by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 146,069,090 shares of the computer hardware maker’s stock worth $17,738,630,000 after acquiring an additional 2,042,348 shares during the period. Fisher Asset Management LLC boosted its holdings in NVIDIA by 3.5% in the 3rd quarter. Fisher Asset Management LLC now owns 96,720,707 shares of the computer hardware maker’s stock valued at $11,745,763,000 after purchasing an additional 3,283,380 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. grew its position in shares of NVIDIA by 0.3% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 63,615,639 shares of the computer hardware maker’s stock worth $8,542,944,000 after purchasing an additional 186,761 shares in the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Price Performance

NVDA stock opened at $117.52 on Thursday. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $153.13. 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 stock has a market cap of $2.87 trillion, a price-to-earnings ratio of 46.25, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The business has a fifty day moving average of $127.71 and a two-hundred day moving average of $131.12.

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

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s payout ratio is 1.36%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Benchmark reissued a “buy” rating and set a $190.00 price target on shares of NVIDIA in a research report on Wednesday. JPMorgan Chase & Co. increased their target price on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Bank of America reaffirmed a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday. Stifel Nicolaus set a $180.00 target price on shares of NVIDIA in a report on Wednesday. Finally, Rosenblatt Securities restated a “buy” rating and issued a $220.00 target price on shares of NVIDIA in a research report on Wednesday. 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.76.

Insider Transactions at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the transaction, the executive vice president now directly owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, 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 disclosure for this sale can be found here. In the last three months, insiders sold 92,449 shares of company stock valued at $11,960,727. Insiders own 4.23% of the company’s stock.

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.