NVIDIA Co. (NASDAQ:NVDA) Stock Position Boosted by First Manhattan CO. LLC.

First Manhattan CO. LLC. grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA - Free Report) by 26.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,647,027 shares of the computer hardware maker's stock after buying an additional 345,528 shares during the quarter. First Manhattan CO. LLC.'s holdings in NVIDIA were worth $221,783,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tacita Capital Inc acquired a new position in shares of NVIDIA during the fourth quarter valued at about $28,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA during the fourth quarter valued at about $34,000. Vision Financial Markets LLC acquired a new stake in shares of NVIDIA in the 4th quarter worth about $38,000. Luken Investment Analytics LLC acquired a new stake in shares of NVIDIA in the 4th quarter worth about $40,000. Finally, Lowe Wealth Advisors LLC acquired a new stake in shares of NVIDIA in the 4th quarter worth about $46,000. Institutional investors own 65.27% of the company's stock.

Analyst Upgrades and Downgrades

NVDA has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $160.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. DZ Bank upgraded shares of NVIDIA from a "hold" rating to a "strong-buy" rating in a research report on Friday, February 28th. Tigress Financial reiterated a "buy" rating on shares of NVIDIA in a report on Wednesday, February 26th. UBS Group reiterated a "buy" rating on shares of NVIDIA in a report on Friday. Finally, Bank of America upped their target price on shares of NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating, thirty-three have assigned a buy rating and three have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $167.53.

Insider Activity at NVIDIA

In other news, CFO Colette Kress sold 66,660 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.83, for a total value of $7,787,887.80. Following the completion of the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the company's stock in a transaction on Friday, March 21st. The shares were sold at an average price of $116.80, for a total transaction of $525,600.00. Following the completion of the transaction, the insider now owns 479,428 shares of the company's stock, valued at $55,997,190.40. This trade represents a 0.93% decrease in their ownership of the stock. 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. 4.17% of the stock is owned by company insiders.

NVIDIA Trading Up 0.7%

Shares of NASDAQ NVDA traded up $1.02 during midday trading on Wednesday, reaching $136.52. 153,614,714 shares of the stock were exchanged, compared to its average volume of 288,045,017. NVIDIA Co. has a 52-week low of $86.62 and a 52-week high of $195.95. The stock has a 50 day moving average price of $114.51 and a 200-day moving average price of $126.60. The company has a market capitalization of $3.34 trillion, a P/E ratio of 53.89, a P/E/G ratio of 1.76 and a beta of 2.11. 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 (NASDAQ:NVDA - Get Free Report) last released its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $38.16 billion. Equities research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

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.