First Manhattan CO. LLC. Has $221.78 Million Stake in NVIDIA Co. (NASDAQ:NVDA)

First Manhattan CO. LLC. increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 26.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,647,027 shares of the computer hardware maker's stock after purchasing an additional 345,528 shares during the period. First Manhattan CO. LLC.'s holdings in NVIDIA were worth $221,783,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. FMR LLC raised its holdings in NVIDIA by 0.7% in 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 last quarter. Geode Capital Management LLC raised its holdings in NVIDIA by 1.7% in 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 last quarter. Price T Rowe Associates Inc. MD raised its holdings in NVIDIA by 0.9% in 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 last quarter. Norges Bank acquired a new position in NVIDIA in the 4th quarter valued at $43,515,504,000. Finally, Northern Trust Corp raised its holdings in 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 acquiring an additional 36,266,817 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO Colette Kress sold 66,660 shares of the company's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the completion of the transaction, the chief financial officer now owns 3,085,765 shares of the company's stock, valued at approximately $360,509,924.95. This represents a 2.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Dabiri sold 2,663 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now directly owns 17,279 shares of the company's stock, 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 three months, insiders sold 147,147 shares of company stock worth $17,133,207. Corporate insiders own 4.17% of the company's stock.

NVIDIA Stock Up 4.8%

NVDA stock traded up $6.48 during midday trading on Thursday, reaching $141.29. The company had a trading volume of 186,298,119 shares, compared to its average volume of 286,792,199. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $195.95. 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 company has a market capitalization of $3.46 trillion, a P/E ratio of 55.63, a PEG ratio of 1.76 and a beta of 2.11. The company has a 50 day moving average of $114.85 and a two-hundred day moving average of $126.66.

NVIDIA (NASDAQ:NVDA - Get Free Report) last issued 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). 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% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 earnings per share. On average, equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NVDA. UBS Group reissued a "buy" rating on shares of NVIDIA in a research note on Friday, May 23rd. Seaport Res Ptn raised shares of NVIDIA to a "strong sell" rating in a research note on Wednesday, April 30th. HSBC cut shares of NVIDIA from a "buy" rating to a "hold" rating and set a $120.00 price objective for the company. in a research note on Thursday, April 3rd. TD Cowen boosted their price objective on shares of NVIDIA from $140.00 to $175.00 and gave the company a "buy" rating in a research note on Thursday. Finally, Morgan Stanley reissued an "overweight" rating and set a $170.00 price objective on shares of NVIDIA in a research note on Thursday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, thirty-five have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $169.50.

NVIDIA Company 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.