Castle Rock Wealth Management LLC Lowers Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Castle Rock Wealth Management LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 4.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm 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 investment portfolio, making the stock its 2nd biggest position. Castle Rock Wealth Management LLC's holdings in NVIDIA were worth $16,804,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of NVIDIA by 0.7% during the 4th quarter. FMR LLC now owns 1,004,376,608 shares of the computer hardware maker's stock worth $134,877,735,000 after acquiring an additional 6,665,252 shares during the period. Geode Capital Management LLC raised its position in NVIDIA by 1.7% during the fourth 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 purchasing an additional 9,468,786 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in NVIDIA by 0.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 411,328,951 shares of the computer hardware maker's stock worth $55,237,367,000 after purchasing an additional 3,721,331 shares during the last quarter. Norges Bank acquired a new stake in shares of NVIDIA in the 4th quarter valued at $43,515,504,000. Finally, Northern Trust Corp increased its stake in shares of NVIDIA by 15.8% in 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 purchasing an additional 36,266,817 shares during the last quarter. Institutional investors and hedge funds own 65.27% of the company's stock.

NVIDIA Trading Up 1.2%

Shares of NVDA stock opened at $141.72 on Friday. The company has a market cap of $3.46 trillion, a P/E ratio of 55.77, a PEG ratio of 1.76 and a beta of 2.12. The stock has a 50 day simple moving average of $118.45 and a two-hundred day simple moving average of $126.38. 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 fifty-two week low of $86.62 and a fifty-two week high of $195.95.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued its earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.06). The business had revenue of $44.06 billion during the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company's revenue for the quarter was up 69.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.61 earnings per share. Research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

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

Insiders Place Their Bets

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.80, for a total value of $525,600.00. Following the completion of the sale, the insider now owns 479,428 shares of the company's stock, valued at approximately $55,997,190.40. This trade represents a 0.93% 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, Director John Dabiri sold 2,663 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the sale, the director now directly owns 17,279 shares of the company's stock, valued at $1,900,690. This trade represents a 13.35% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,257,983 shares of company stock worth $172,973,349. 4.17% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on NVDA shares. Piper Sandler restated an "overweight" rating and set a $180.00 price objective (up from $150.00) on shares of NVIDIA in a research report on Wednesday, May 28th. Mizuho raised their price target on shares of NVIDIA from $168.00 to $170.00 and gave the company an "outperform" rating in a research note on Thursday, May 29th. Morgan Stanley reaffirmed an "overweight" rating and set a $170.00 price target (up from $160.00) on shares of NVIDIA in a report on Thursday, May 29th. Truist Financial increased their price objective on shares of NVIDIA from $205.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 29th. Finally, Rosenblatt Securities boosted their target price on shares of NVIDIA from $178.00 to $200.00 and gave the stock a "buy" rating in a research note on Thursday, May 29th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $171.66.

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.

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