Levin Capital Strategies L.P. Acquires 1,765 Shares of NVIDIA Co. (NASDAQ:NVDA)

Levin Capital Strategies L.P. raised its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 10.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,403 shares of the computer hardware maker’s stock after acquiring an additional 1,765 shares during the quarter. Levin Capital Strategies L.P.’s holdings in NVIDIA were worth $2,606,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in NVDA. Clear Street Derivatives LLC acquired a new position in shares of NVIDIA in the 3rd quarter valued at $4,589,905,000. Proficio Capital Partners LLC increased its holdings in shares of NVIDIA by 14,641.2% in the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock valued at $4,656,682,000 after purchasing an additional 34,441,082 shares during the period. Geode Capital Management LLC raised its stake in shares of NVIDIA by 2.2% in the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after purchasing an additional 11,525,969 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of NVIDIA by 3.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after purchasing an additional 6,526,200 shares during the period. Finally, National Pension Service boosted its position in NVIDIA by 14.9% in the third quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock valued at $5,734,483,000 after buying an additional 6,118,674 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Stock Down 7.4 %

Shares of NASDAQ:NVDA opened at $94.31 on Monday. The business’s 50 day moving average is $121.20 and its 200 day moving average is $131.19. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $195.95. The stock has a market cap of $2.30 trillion, a price-to-earnings ratio of 37.12, a PEG ratio of 1.76 and a beta of 1.96. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.05. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. On average, sell-side analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were issued a $0.01 dividend. The ex-dividend date was Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. NVIDIA’s payout ratio is currently 1.36%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NVDA shares. Bank of America reaffirmed a “buy” rating and issued a $200.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. HSBC downgraded NVIDIA from a “buy” rating to a “hold” rating and set a $120.00 price target on the stock. in a research report on Thursday. DZ Bank raised NVIDIA from a “hold” rating to a “strong-buy” rating in a report on Friday, February 28th. DA Davidson dropped their target price on NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $160.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Six investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $169.89.

Insider Buying and Selling

In other news, Director Robert K. Burgess sold 53,324 shares of the firm’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the transaction, the director now directly owns 251,044 shares of the company’s stock, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director John Dabiri sold 2,663 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,147 shares of company stock worth $17,133,207. Corporate insiders own 4.23% of the company’s stock.

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.