Castellan Group Raises Holdings in NVIDIA Co. (NASDAQ:NVDA)

Castellan Group lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 3.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,843 shares of the computer hardware maker’s stock after purchasing an additional 2,013 shares during the quarter. NVIDIA comprises approximately 2.7% of Castellan Group’s holdings, making the stock its 7th largest position. Castellan Group’s holdings in NVIDIA were worth $6,539,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in NVDA. Hoertkorn Richard Charles lifted its stake in NVIDIA by 2.0% in the third quarter. Hoertkorn Richard Charles now owns 3,490 shares of the computer hardware maker’s stock worth $424,000 after purchasing an additional 70 shares during the last quarter. Smart Portfolios LLC lifted its stake in NVIDIA by 2.7% in the third quarter. Smart Portfolios LLC now owns 2,805 shares of the computer hardware maker’s stock worth $341,000 after purchasing an additional 75 shares during the last quarter. Palisade Asset Management LLC lifted its stake in NVIDIA by 0.5% in the third quarter. Palisade Asset Management LLC now owns 15,363 shares of the computer hardware maker’s stock worth $1,866,000 after purchasing an additional 75 shares during the last quarter. Total Wealth Planning LLC lifted its stake in NVIDIA by 3.6% in the third quarter. Total Wealth Planning LLC now owns 2,275 shares of the computer hardware maker’s stock worth $276,000 after purchasing an additional 78 shares during the last quarter. Finally, Boyd Watterson Asset Management LLC OH lifted its stake in NVIDIA by 0.3% in the third quarter. Boyd Watterson Asset Management LLC OH now owns 30,080 shares of the computer hardware maker’s stock worth $3,653,000 after purchasing an additional 80 shares during the last quarter. 65.27% of the stock is owned by institutional investors.

NVIDIA Stock Up 4.4 %

NVDA stock opened at $147.07 on Thursday. The firm has a 50-day moving average of $138.69 and a two-hundred day moving average of $129.22. The company has a market cap of $3.60 trillion, a price-to-earnings ratio of 57.88, a PEG ratio of 2.48 and a beta of 1.64. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a 12 month low of $58.58 and a 12 month high of $153.13.

NVIDIA (NASDAQ:NVDA) last announced its quarterly earnings results on Wednesday, November 20th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.12. The business had revenue of $35.08 billion during the quarter, compared to the consensus estimate of $33.15 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The business’s revenue was up 93.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. As a group, analysts forecast that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Thursday, December 5th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. NVIDIA’s dividend payout ratio is currently 1.57%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Raymond James raised their price objective on shares of NVIDIA from $140.00 to $170.00 and gave the stock a “strong-buy” rating in a research note on Thursday, November 14th. Wells Fargo & Company raised their target price on shares of NVIDIA from $165.00 to $185.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. DA Davidson raised their target price on shares of NVIDIA from $90.00 to $135.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Robert W. Baird raised their target price on shares of NVIDIA from $150.00 to $190.00 and gave the stock an “outperform” rating in a research report on Thursday, November 21st. Finally, The Goldman Sachs Group raised their target price on shares of NVIDIA from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Thursday, November 21st. Four investment analysts have rated the stock with a hold rating, thirty-nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.63.

Insider Transactions at NVIDIA

In related news, EVP Ajay K. Puri sold 36,462 shares of the stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the transaction, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at approximately $589,726,376.80. This trade represents a 0.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $131.26, for a total transaction of $131,260,000.00. Following the transaction, the director now directly owns 28,671,360 shares of the company’s stock, valued at $3,763,402,713.60. The trade was a 3.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,108,348 shares of company stock worth $146,506,958 in the last 90 days. Insiders own 4.23% of the company’s stock.

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.