Black Diamond Financial LLC Increases Position in NVIDIA Co. (NASDAQ:NVDA)

Black Diamond Financial LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 7.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,195 shares of the computer hardware maker’s stock after buying an additional 1,386 shares during the quarter. Black Diamond Financial LLC’s holdings in NVIDIA were worth $2,578,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. AMF Tjanstepension AB increased its position in shares of NVIDIA by 2.2% during the third quarter. AMF Tjanstepension AB now owns 8,039,712 shares of the computer hardware maker’s stock worth $976,348,000 after acquiring an additional 169,445 shares during the period. Wealth Group Ltd. grew its stake in NVIDIA by 5.0% in the third quarter. Wealth Group Ltd. now owns 5,602 shares of the computer hardware maker’s stock worth $680,000 after purchasing an additional 265 shares in the last quarter. SOA Wealth Advisors LLC. increased its stake in shares of NVIDIA by 0.3% during the third quarter. SOA Wealth Advisors LLC. now owns 120,634 shares of the computer hardware maker’s stock valued at $14,650,000 after buying an additional 350 shares during the period. Swedbank AB lifted its stake in NVIDIA by 4.8% in the third quarter. Swedbank AB now owns 40,888,722 shares of the computer hardware maker’s stock worth $4,965,526,000 after acquiring an additional 1,868,358 shares during the period. Finally, Sweeney & Michel LLC grew its holdings in NVIDIA by 27.0% during the 3rd quarter. Sweeney & Michel LLC now owns 18,692 shares of the computer hardware maker’s stock worth $2,270,000 after acquiring an additional 3,979 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NVDA. HSBC lowered their price target on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a research report on Monday, January 13th. Morgan Stanley set a $162.00 target price on NVIDIA and gave the company an “overweight” rating in a research report on Wednesday, March 19th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Susquehanna reaffirmed a “positive” rating and set a $180.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Finally, DA Davidson reduced their target price on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $171.51.

Insider Activity

In other news, CFO Colette Kress sold 66,660 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the transaction, the insider now owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 183,609 shares of company stock worth $22,642,615 in the last ninety days. Company insiders own 4.23% of the company’s stock.

NVIDIA Stock Down 1.6 %

NVIDIA stock opened at $109.67 on Friday. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $195.95. The firm has a market cap of $2.68 trillion, a price-to-earnings ratio of 43.16, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The business’s 50-day moving average price is $125.01 and its 200 day moving average price is $131.50. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

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

NVIDIA Dividend Announcement

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

NVIDIA Company 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.