ARK Investment Management LLC Has $49.36 Million Position in NVIDIA Co. (NASDAQ:NVDA)

ARK Investment Management LLC decreased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 1.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 367,556 shares of the computer hardware maker’s stock after selling 4,892 shares during the quarter. ARK Investment Management LLC’s holdings in NVIDIA were worth $49,359,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legend Financial Advisors Inc. acquired a new stake in NVIDIA during the fourth quarter valued at approximately $34,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA during the 4th quarter worth approximately $40,000. Lowe Wealth Advisors LLC acquired a new stake in NVIDIA in the 4th quarter valued at $46,000. 1620 Investment Advisors Inc. grew its position in NVIDIA by 145.9% in the third quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after acquiring an additional 248 shares during the period. Finally, Gleason Group Inc. raised its stake in NVIDIA by 52.9% during the fourth quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker’s stock worth $58,000 after acquiring an additional 148 shares in the last quarter. 65.27% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $200.00 target price on shares of NVIDIA in a report on Wednesday, March 19th. KeyCorp set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. Barclays lifted their target price on shares of NVIDIA from $160.00 to $175.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Benchmark reaffirmed a “buy” rating and set a $190.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Truist Financial boosted their price objective on NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, NVIDIA has an average rating of “Moderate Buy” and an average target price of $171.51.

Insider Activity

In other news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the sale, the director now owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction 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 approximately $360,509,924.95. The trade was a 2.11 % 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 over the last ninety days. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Up 1.6 %

NVDA opened at $110.15 on Wednesday. The stock has a market capitalization of $2.69 trillion, a P/E ratio of 43.35, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12 month low of $75.61 and a 12 month high of $195.95. The firm’s fifty day simple moving average is $123.81 and its 200 day simple moving average is $131.47.

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

NVIDIA Announces Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend 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.