NVIDIA Corporation $NVDA Stake Boosted by Castleark Management LLC

Castleark Management LLC increased its stake in shares of NVIDIA Corporation (NASDAQ:NVDA) by 26.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,418,598 shares of the computer hardware maker’s stock after buying an additional 294,838 shares during the quarter. NVIDIA makes up about 6.7% of Castleark Management LLC’s portfolio, making the stock its 2nd largest position. Castleark Management LLC’s holdings in NVIDIA were worth $224,124,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Harbor Asset Planning Inc. bought a new position in NVIDIA during the second quarter valued at $28,000. Winnow Wealth LLC purchased a new position in shares of NVIDIA during the 2nd quarter valued at $32,000. Longfellow Investment Management Co. LLC grew its stake in shares of NVIDIA by 47.9% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 207 shares of the computer hardware maker’s stock worth $33,000 after acquiring an additional 67 shares during the period. Spurstone Advisory Services LLC purchased a new stake in NVIDIA in the 2nd quarter worth about $40,000. Finally, Kathleen S. Wright Associates Inc. increased its holdings in NVIDIA by 169.3% in the 1st quarter. Kathleen S. Wright Associates Inc. now owns 404 shares of the computer hardware maker’s stock worth $44,000 after acquiring an additional 254 shares during the last quarter. Institutional investors own 65.27% of the company’s stock.

NVIDIA Trading Down 3.3%

NVIDIA stock opened at $175.02 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.71 and a current ratio of 4.47. NVIDIA Corporation has a fifty-two week low of $86.62 and a fifty-two week high of $212.19. The stock has a market cap of $4.25 trillion, a P/E ratio of 43.43, a PEG ratio of 0.86 and a beta of 2.29. The firm’s fifty day moving average price is $186.69 and its 200-day moving average price is $173.81.

NVIDIA (NASDAQ:NVDA) last posted its earnings results on Wednesday, November 19th. The computer hardware maker reported $1.30 EPS for the quarter, topping the consensus estimate of $1.23 by $0.07. NVIDIA had a return on equity of 99.24% and a net margin of 53.01%.The business had revenue of $57.01 billion during the quarter, compared to analysts’ expectations of $54.66 billion. During the same period in the previous year, the business earned $0.81 earnings per share. The firm’s revenue was up 62.5% on a year-over-year basis. Equities research analysts forecast that NVIDIA Corporation will post 2.77 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 26th. Investors of record on Thursday, December 4th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.0%. The ex-dividend date of this dividend is Thursday, December 4th. NVIDIA’s dividend payout ratio (DPR) is currently 0.99%.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, EVP Debora Shoquist sold 69,840 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $177.85, for a total value of $12,421,044.00. Following the completion of the transaction, the executive vice president owned 1,424,603 shares of the company’s stock, valued at $253,365,643.55. The trade was a 4.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director A Brooke Seawell sold 12,728 shares of the stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $183.93, for a total transaction of $2,341,061.04. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,829,474 shares of company stock valued at $512,805,367 over the last quarter. Company insiders own 4.17% of the company’s stock.

Analysts Set New Price Targets

NVDA has been the topic of several recent research reports. KeyCorp upped their price objective on shares of NVIDIA from $250.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Wall Street Zen upgraded shares of NVIDIA from a “hold” rating to a “buy” rating in a research note on Sunday, October 19th. Wedbush lifted their price objective on shares of NVIDIA from $210.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Citic Securities increased their target price on NVIDIA from $237.00 to $242.00 and gave the stock a “buy” rating in a research report on Thursday, November 20th. Finally, JPMorgan Chase & Co. raised their price target on NVIDIA from $215.00 to $250.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Four equities research analysts have rated the stock with a Strong Buy rating, forty-six have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, NVIDIA presently has a consensus rating of “Buy” and an average price target of $258.65.

About NVIDIA

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.