Castleark Management LLC Has $262.62 Million Stake in NVIDIA Corporation $NVDA

Castleark Management LLC increased its holdings in NVIDIA Corporation (NASDAQ:NVDAFree Report) by 2.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,408,146 shares of the computer hardware maker’s stock after buying an additional 30,630 shares during the period. NVIDIA accounts for 7.7% of Castleark Management LLC’s investment portfolio, making the stock its biggest position. Castleark Management LLC’s holdings in NVIDIA were worth $262,619,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Diversified Enterprises LLC boosted its stake in shares of NVIDIA by 44.2% in the fourth quarter. Diversified Enterprises LLC now owns 127,604 shares of the computer hardware maker’s stock valued at $23,798,000 after purchasing an additional 39,129 shares during the period. PMG Family Office LLC acquired a new stake in NVIDIA during the third quarter worth approximately $2,150,000. ASR Vermogensbeheer N.V. raised its holdings in NVIDIA by 1.8% during the fourth quarter. ASR Vermogensbeheer N.V. now owns 3,169,377 shares of the computer hardware maker’s stock worth $591,086,000 after purchasing an additional 54,877 shares in the last quarter. Weaver Capital Management LLC increased its holdings in shares of NVIDIA by 5.5% in the 4th quarter. Weaver Capital Management LLC now owns 85,216 shares of the computer hardware maker’s stock valued at $15,893,000 after acquiring an additional 4,439 shares during the period. Finally, Circle Wealth Management LLC increased its holdings in shares of NVIDIA by 16.1% in the 3rd quarter. Circle Wealth Management LLC now owns 107,787 shares of the computer hardware maker’s stock valued at $20,111,000 after acquiring an additional 14,936 shares during the period. 65.27% of the stock is owned by institutional investors.

Insider Buying and Selling at NVIDIA

In related news, Director Stephen C. Neal sold 15,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $215.73, for a total value of $3,343,815.00. Following the transaction, the director directly owned 116,135 shares of the company’s stock, valued at approximately $25,053,803.55. This trade represents a 11.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Aarti S. Shah sold 19,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $176.71, for a total value of $3,357,490.00. Following the completion of the transaction, the director directly owned 36,007 shares in the company, valued at $6,362,796.97. The trade was a 34.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,619,457 shares of company stock worth $332,073,643 over the last quarter. Insiders own 3.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. President Capital lifted their price objective on shares of NVIDIA from $280.00 to $295.00 and gave the company a “buy” rating in a research report on Thursday, May 21st. CICC Research upped their target price on shares of NVIDIA from $240.60 to $268.30 and gave the company an “outperform” rating in a report on Friday, May 22nd. Needham & Company LLC restated a “buy” rating and issued a $270.00 target price on shares of NVIDIA in a report on Tuesday, June 2nd. Truist Financial upped their price objective on shares of NVIDIA from $287.00 to $307.00 and gave the company a “buy” rating in a research note on Thursday, May 21st. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $350.00 target price on shares of NVIDIA in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a Strong Buy rating, forty-eight have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $305.67.

Get Our Latest Stock Analysis on NVIDIA

Key NVIDIA News

Here are the key news stories impacting NVIDIA this week:

NVIDIA Price Performance

NASDAQ:NVDA opened at $205.19 on Friday. The business’s 50-day moving average price is $206.84 and its 200 day moving average price is $191.34. The firm has a market cap of $4.97 trillion, a P/E ratio of 31.42, a PEG ratio of 0.46 and a beta of 2.22. NVIDIA Corporation has a 52-week low of $140.85 and a 52-week high of $236.54. The company has a quick ratio of 2.85, a current ratio of 3.44 and a debt-to-equity ratio of 0.04.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its quarterly earnings results on Wednesday, May 20th. The computer hardware maker reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.11. NVIDIA had a return on equity of 96.94% and a net margin of 62.97%.The business had revenue of $81.62 billion during the quarter, compared to analyst estimates of $78.42 billion. During the same quarter last year, the company posted $0.81 EPS. NVIDIA’s revenue for the quarter was up 85.2% on a year-over-year basis. As a group, sell-side analysts predict that NVIDIA Corporation will post 8.65 earnings per share for the current fiscal year.

NVIDIA declared that its Board of Directors has approved a stock buyback program on Wednesday, May 20th that allows the company to repurchase $80.00 billion in outstanding shares. This repurchase authorization allows the computer hardware maker to repurchase up to 1.5% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

NVIDIA Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Thursday, June 4th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, June 4th. This represents a $1.00 annualized dividend and a dividend yield of 0.5%. This is a positive change from NVIDIA’s previous quarterly dividend of $0.01. NVIDIA’s dividend payout ratio is presently 15.31%.

About NVIDIA

(Free Report)

NVIDIA Corporation, founded in 1993 and headquartered in Santa Clara, California, is a global technology company that designs and develops graphics processing units (GPUs) and system-on-chip (SoC) technologies. Co-founded by Jensen Huang, who serves as president and chief executive officer, along with Chris Malachowsky and Curtis Priem, NVIDIA has grown from a graphics-focused chipmaker into a broad provider of accelerated computing hardware and software for multiple industries.

The company’s product portfolio spans discrete GPUs for gaming and professional visualization (marketed under the GeForce and NVIDIA RTX lines), high-performance data center accelerators used for AI training and inference (including widely adopted platforms such as the A100 and H100 series), and Tegra SoCs for automotive and edge applications.

See Also

Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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