Straightline Group LLC Takes $505,000 Position in NVIDIA Co. (NASDAQ:NVDA)

Straightline Group LLC bought a new position in NVIDIA Co. (NASDAQ:NVDA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,758 shares of the computer hardware maker's stock, valued at approximately $505,000. NVIDIA accounts for approximately 0.3% of Straightline Group LLC's investment portfolio, making the stock its 18th biggest holding.

Other hedge funds have also added to or reduced their stakes in the company. DiNuzzo Private Wealth Inc. raised its stake in shares of NVIDIA by 0.8% in the 4th quarter. DiNuzzo Private Wealth Inc. now owns 8,612 shares of the computer hardware maker's stock valued at $1,157,000 after buying an additional 71 shares in the last quarter. Palisade Asset Management LLC raised its position 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 in the last quarter. Baker Boyer National Bank lifted its stake in NVIDIA by 3.3% during the fourth quarter. Baker Boyer National Bank now owns 2,403 shares of the computer hardware maker's stock worth $323,000 after purchasing an additional 76 shares during the period. Kwmg LLC boosted its stake in NVIDIA by 0.6% in the 4th quarter. Kwmg LLC now owns 13,067 shares of the computer hardware maker's stock valued at $1,755,000 after buying an additional 77 shares in the last quarter. Finally, SC&H Financial Advisors Inc. lifted its holdings in shares of NVIDIA by 1.6% during the fourth quarter. SC&H Financial Advisors Inc. now owns 5,074 shares of the computer hardware maker's stock valued at $681,000 after acquiring an additional 80 shares during the period. Hedge funds and other institutional investors own 65.27% of the company's stock.

NVIDIA Trading Down 0.6 %

NASDAQ:NVDA traded down $0.72 during trading hours on Friday, hitting $116.65. 132,620,250 shares of the company were exchanged, compared to its average volume of 296,482,821. The company has a fifty day simple moving average of $110.29 and a 200 day simple moving average of $127.37. 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 stock has a market capitalization of $2.85 trillion, a price-to-earnings ratio of 45.91, a price-to-earnings-growth ratio of 1.76 and a beta of 2.11. NVIDIA Co. has a one year low of $86.62 and a one year high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) 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 firm had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. Sell-side analysts expect that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date of this dividend was Wednesday, March 12th. NVIDIA's dividend payout ratio (DPR) is presently 1.36%.

Insider Activity

In other NVIDIA news, Director Robert K. Burgess sold 53,324 shares of the firm's stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the completion of the sale, the director now 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 147,147 shares of company stock valued at $17,133,207 in the last ninety days. 4.23% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several recent analyst reports. HSBC lowered shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a report on Thursday, April 3rd. Morgan Stanley lowered their price objective on NVIDIA from $162.00 to $160.00 and set an "overweight" rating for the company in a research report on Friday, April 25th. TD Cowen reduced their target price on shares of NVIDIA from $175.00 to $140.00 and set a "buy" rating on the stock in a research note on Wednesday, April 9th. Tigress Financial reaffirmed a "buy" rating on shares of NVIDIA in a research note on Wednesday, February 26th. Finally, Bank of America reduced their target price on NVIDIA from $200.00 to $160.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have given a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, NVIDIA has an average rating of "Moderate Buy" and a consensus target price of $164.96.

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.