New York Life Investment Management LLC Has $442.34 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

New York Life Investment Management LLC increased its position in NVIDIA Co. (NASDAQ:NVDA) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,293,920 shares of the computer hardware maker’s stock after purchasing an additional 16,375 shares during the quarter. NVIDIA makes up about 4.3% of New York Life Investment Management LLC’s portfolio, making the stock its 3rd biggest position. New York Life Investment Management LLC’s holdings in NVIDIA were worth $442,341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NVDA. Legend Financial Advisors Inc. bought a new position in NVIDIA in the fourth quarter worth about $34,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the fourth quarter valued at approximately $40,000. Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA during the fourth quarter worth $46,000. 1620 Investment Advisors Inc. lifted its holdings in shares of NVIDIA by 145.9% in the 3rd quarter. 1620 Investment Advisors Inc. now owns 418 shares of the computer hardware maker’s stock valued at $51,000 after buying an additional 248 shares during the period. Finally, Gleason Group Inc. grew its stake in shares of NVIDIA by 52.9% during the 4th quarter. Gleason Group Inc. now owns 428 shares of the computer hardware maker’s stock worth $58,000 after purchasing an additional 148 shares during the period. 65.27% of the stock is currently owned by institutional investors.

NVIDIA Stock Performance

NVDA opened at $110.42 on Thursday. The stock has a market cap of $2.69 trillion, a PE ratio of 43.46, a P/E/G ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 1 year low of $75.61 and a 1 year high of $195.95. The stock’s 50 day simple moving average is $123.07 and its 200-day simple moving average is $131.32. 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 (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.05. The company had revenue of $39.33 billion during 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%. Sell-side analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th were given a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is presently 1.36%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NVDA shares. Wedbush restated an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, February 20th. Morgan Stanley set a $162.00 target price on NVIDIA and gave the stock an “overweight” rating in a research note on Wednesday, March 19th. DA Davidson dropped their price target on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research note on Thursday, March 20th. HSBC reduced their price objective 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. Finally, Truist Financial lifted their target price on shares of NVIDIA from $204.00 to $205.00 and gave the company a “buy” rating in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, thirty-seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $171.51.

Insider Buying and Selling at NVIDIA

In related news, Director John Dabiri sold 2,663 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now owns 3,902,888 shares in the company, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 183,609 shares of company stock worth $22,642,615. Insiders own 4.23% of the company’s stock.

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.