BTC Capital Management Inc. Acquires 7,476 Shares of NVIDIA Co. (NASDAQ:NVDA)

BTC Capital Management Inc. grew its position in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 330,176 shares of the computer hardware maker’s stock after purchasing an additional 7,476 shares during the period. NVIDIA makes up about 3.3% of BTC Capital Management Inc.’s holdings, making the stock its 5th largest holding. BTC Capital Management Inc.’s holdings in NVIDIA were worth $35,785,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Tacita Capital Inc purchased a new position in NVIDIA in the fourth quarter valued at $28,000. Vision Financial Markets LLC purchased a new position in NVIDIA in the fourth quarter valued at $38,000. Luken Investment Analytics LLC purchased a new position in NVIDIA in the fourth quarter valued at $40,000. Copia Wealth Management purchased a new position in NVIDIA in the fourth quarter valued at $50,000. Finally, LSV Asset Management purchased a new position in NVIDIA in the fourth quarter valued at $54,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on NVDA shares. Stifel Nicolaus set a $180.00 target price on NVIDIA in a report on Wednesday, March 19th. Arete Research raised NVIDIA to a “strong-buy” rating in a report on Wednesday, May 21st. Morgan Stanley reissued an “overweight” rating and issued a $170.00 target price (up previously from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Bank of America increased their target price on NVIDIA from $150.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, May 14th. Finally, Raymond James raised their price objective on NVIDIA from $150.00 to $165.00 and gave the stock a “strong-buy” rating in a report on Thursday, May 29th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have assigned a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $171.66.

Insider Buying and Selling

In related news, insider Donald F. Robertson, Jr. sold 4,500 shares of the company’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now owns 479,428 shares of the company’s stock, valued at $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robert K. Burgess sold 53,324 shares of the company’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. The trade was a 17.52% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,255,320 shares of company stock worth $172,680,419 in the last quarter. 4.17% of the stock is currently owned by company insiders.

NVIDIA Trading Up 0.6%

Shares of NASDAQ:NVDA opened at $142.63 on Tuesday. NVIDIA Co. has a 1-year low of $86.62 and a 1-year high of $195.95. 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 capitalization of $3.48 trillion, a price-to-earnings ratio of 56.13, a PEG ratio of 1.76 and a beta of 2.12. The company has a 50 day moving average price of $119.10 and a 200 day moving average price of $126.11.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.61 EPS. On average, research analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, June 11th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

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.