Mainstay Capital Management LLC ADV Has $4.26 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Mainstay Capital Management LLC ADV boosted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 12.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 31,707 shares of the computer hardware maker’s stock after acquiring an additional 3,617 shares during the quarter. NVIDIA comprises about 0.6% of Mainstay Capital Management LLC ADV’s investment portfolio, making the stock its 8th biggest position. Mainstay Capital Management LLC ADV’s holdings in NVIDIA were worth $4,258,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Legend Financial Advisors Inc. purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $34,000. Luken Investment Analytics LLC purchased a new stake in shares of NVIDIA in the fourth quarter worth approximately $40,000. DHJJ Financial Advisors Ltd. lifted its stake in shares of NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 shares during the last quarter. Lowe Wealth Advisors LLC purchased a new position in NVIDIA during the 4th quarter valued at $46,000. Finally, 1620 Investment Advisors Inc. grew its position in 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 acquiring an additional 248 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Down 1.6 %

NASDAQ:NVDA opened at $109.67 on Monday. The company has a market cap of $2.68 trillion, a PE ratio of 43.16, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The company’s 50 day moving average is $125.01 and its two-hundred day moving average is $131.61. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $195.95.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. The firm had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. Analysts anticipate that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s payout ratio is 1.36%.

Insiders Place Their Bets

In other news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 3,902,888 shares in the company, valued at $589,726,376.80. This trade represents a 0.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Colette Kress sold 66,660 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at approximately $360,509,924.95. The trade was a 2.11 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 183,609 shares of company stock worth $22,642,615. 4.23% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NVDA. Stifel Nicolaus set a $180.00 target price on NVIDIA in a research report on Wednesday, March 19th. HSBC decreased their price objective on shares of NVIDIA from $195.00 to $185.00 and set a “buy” rating for the company in a report on Monday, January 13th. Benchmark restated a “buy” rating and issued a $190.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Summit Insights downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Finally, Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a report on Wednesday, February 26th. Four research 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’s stock. According to data from MarketBeat, NVIDIA currently has a consensus rating of “Moderate Buy” and an average price target of $171.51.

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.