Mainstay Capital Management LLC ADV Grows Position in NVIDIA Co. (NASDAQ:NVDA)

Mainstay Capital Management LLC ADV lifted its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 56.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 961 shares of the computer hardware maker’s stock after purchasing an additional 345 shares during the quarter. Mainstay Capital Management LLC ADV’s holdings in NVIDIA were worth $476,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Campbell Newman Asset Management Inc. boosted its holdings in NVIDIA by 0.6% in the fourth quarter. Campbell Newman Asset Management Inc. now owns 2,991 shares of the computer hardware maker’s stock valued at $1,481,000 after purchasing an additional 18 shares during the last quarter. Aprio Wealth Management LLC boosted its holdings in NVIDIA by 1.8% in the fourth quarter. Aprio Wealth Management LLC now owns 1,056 shares of the computer hardware maker’s stock valued at $523,000 after purchasing an additional 19 shares during the last quarter. Palumbo Wealth Management LLC boosted its holdings in NVIDIA by 0.7% in the fourth quarter. Palumbo Wealth Management LLC now owns 2,816 shares of the computer hardware maker’s stock valued at $1,395,000 after purchasing an additional 19 shares during the last quarter. Corundum Group Inc. boosted its holdings in NVIDIA by 0.8% in the fourth quarter. Corundum Group Inc. now owns 2,380 shares of the computer hardware maker’s stock valued at $1,179,000 after purchasing an additional 19 shares during the last quarter. Finally, North Star Investment Management Corp. boosted its holdings in NVIDIA by 0.3% in the fourth quarter. North Star Investment Management Corp. now owns 6,994 shares of the computer hardware maker’s stock valued at $3,463,000 after purchasing an additional 20 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Performance

NVDA stock opened at $881.86 on Monday. The company has a market capitalization of $2.20 trillion, a P/E ratio of 73.86, a PEG ratio of 1.27 and a beta of 1.73. The company has a 50-day simple moving average of $830.93 and a 200 day simple moving average of $610.79. NVIDIA Co. has a fifty-two week low of $262.20 and a fifty-two week high of $974.00. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company had revenue of $22.10 billion during the quarter, compared to the consensus estimate of $20.40 billion. During the same period in the prior year, the company earned $0.65 EPS. NVIDIA’s revenue was up 265.3% on a year-over-year basis. Sell-side analysts predict that NVIDIA Co. will post 22.45 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders of record on Wednesday, March 6th were issued a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on NVDA. TD Cowen increased their price target on NVIDIA from $900.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Wolfe Research upped their price objective on NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. HSBC upped their price objective on NVIDIA from $880.00 to $1,050.00 and gave the company a “buy” rating in a research note on Monday, March 18th. The Goldman Sachs Group upped their price objective on NVIDIA from $875.00 to $1,000.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, DA Davidson upped their price objective on NVIDIA from $410.00 to $620.00 and gave the company a “neutral” rating in a research note on Thursday, February 22nd. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $926.30.

Insider Buying and Selling at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares of the company’s stock, valued at approximately $45,412,350.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $911.62, for a total transaction of $410,229.00. Following the sale, the insider now owns 49,815 shares in the company, valued at approximately $45,412,350.30. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark A. Stevens sold 5,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $800.74, for a total value of $4,003,700.00. Following the sale, the director now owns 1,119,583 shares in the company, valued at approximately $896,494,891.42. The disclosure for this sale can be found here. In the last three months, insiders sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is owned by insiders.

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.