Castle Rock Wealth Management LLC Has $16.80 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

Castle Rock Wealth Management LLC decreased its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 4.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,021 shares of the computer hardware maker's stock after selling 5,359 shares during the period. NVIDIA makes up approximately 4.1% of Castle Rock Wealth Management LLC's holdings, making the stock its 2nd biggest position. Castle Rock Wealth Management LLC's holdings in NVIDIA were worth $16,804,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NVDA. FMR LLC lifted its stake in NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock valued at $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC lifted its stake in NVIDIA by 1.7% during the 4th quarter. Geode Capital Management LLC now owns 555,548,278 shares of the computer hardware maker's stock valued at $74,439,273,000 after acquiring an additional 9,468,786 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in NVIDIA by 0.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock valued at $55,237,367,000 after acquiring an additional 3,721,331 shares during the period. Norges Bank bought a new position in NVIDIA during the 4th quarter valued at about $43,515,504,000. Finally, Northern Trust Corp lifted its stake in NVIDIA by 15.8% during the 4th quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker's stock valued at $35,782,134,000 after acquiring an additional 36,266,817 shares during the period. Institutional investors own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on NVDA shares. Bank of America upped their target price on shares of NVIDIA from $150.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. DZ Bank upgraded shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 28th. Rosenblatt Securities upped their price target on shares of NVIDIA from $178.00 to $200.00 and gave the company a "buy" rating in a research report on Thursday, May 29th. Raymond James upped their price target on shares of NVIDIA from $150.00 to $165.00 and gave the company a "strong-buy" rating in a research report on Thursday, May 29th. Finally, William Blair reaffirmed an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, thirty-six have assigned a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $171.66.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 935,000 shares of the firm's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $140.92, for a total value of $131,760,200.00. Following the completion of the transaction, the director now directly owns 9,214,697 shares of the company's stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Tench Coxe sold 1,000,000 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $142.80, for a total value of $142,800,000.00. Following the completion of the sale, the director now owns 26,671,360 shares of the company's stock, valued at approximately $3,808,670,208. This represents a 3.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,614,169 shares of company stock valued at $366,510,238. 4.17% of the stock is owned by corporate insiders.

NVIDIA Price Performance

NVDA traded up $1.33 during trading on Tuesday, reaching $143.96. 155,267,612 shares of the company traded hands, compared to its average volume of 277,596,118. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. NVIDIA Co. has a 12-month low of $86.62 and a 12-month high of $153.13. The firm has a fifty day simple moving average of $119.94 and a 200 day simple moving average of $126.23. The company has a market cap of $3.51 trillion, a P/E ratio of 56.65, a PEG ratio of 1.76 and a beta of 2.12.

NVIDIA (NASDAQ:NVDA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The company had revenue of $44.06 billion for the quarter, compared to analysts' expectations of $43.09 billion. During the same period last year, the business earned $0.61 earnings per share. The company's quarterly revenue was up 69.2% compared to the same quarter last year. On average, equities analysts forecast that NVIDIA Co. will post 2.77 EPS for the current year.

NVIDIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Wednesday, June 11th. NVIDIA's dividend payout ratio (DPR) is presently 1.29%.

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.