Mackenzie Financial Corp Has $1.84 Billion Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Mackenzie Financial Corp boosted its position in NVIDIA Co. (NASDAQ:NVDA - Free Report) by 70.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,672,394 shares of the computer hardware maker's stock after buying an additional 5,662,227 shares during the period. NVIDIA makes up approximately 2.4% of Mackenzie Financial Corp's portfolio, making the stock its 5th biggest position. Mackenzie Financial Corp owned approximately 0.06% of NVIDIA worth $1,836,066,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Regent Peak Wealth Advisors LLC lifted its position in NVIDIA by 0.4% in the 4th quarter. Regent Peak Wealth Advisors LLC now owns 81,833 shares of the computer hardware maker's stock valued at $10,989,000 after acquiring an additional 322 shares in the last quarter. Wealth Group Ltd. lifted its holdings in shares of NVIDIA by 1.8% in the fourth quarter. Wealth Group Ltd. now owns 5,702 shares of the computer hardware maker's stock valued at $766,000 after purchasing an additional 100 shares in the last quarter. Tallon Kerry Patrick bought a new position in shares of NVIDIA in the fourth quarter valued at approximately $972,000. Cvfg LLC purchased a new position in shares of NVIDIA during the fourth quarter valued at approximately $1,455,000. Finally, Empirical Asset Management LLC grew its holdings in NVIDIA by 1,398.8% during the fourth quarter. Empirical Asset Management LLC now owns 749,580 shares of the computer hardware maker's stock worth $100,661,000 after buying an additional 699,568 shares in the last quarter. 65.27% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director John Dabiri sold 2,663 shares of the company's stock in a transaction 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 transaction, the director now directly owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm's stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.80, for a total value of $525,600.00. Following the sale, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. The trade was a 0.93% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,257,983 shares of company stock worth $172,973,349. Insiders own 4.17% of the company's stock.

NVIDIA Price Performance

NASDAQ:NVDA traded up $1.73 during trading hours on Friday, hitting $141.72. The stock had a trading volume of 153,481,622 shares, compared to its average volume of 280,663,387. The company has a 50 day simple moving average of $117.82 and a two-hundred day simple moving average of $126.42. The firm has a market capitalization of $3.46 trillion, a price-to-earnings ratio of 55.77, a P/E/G ratio of 1.76 and a beta of 2.12. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. 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 posted its quarterly earnings data on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.06). The business had revenue of $44.06 billion for the quarter, compared to the consensus estimate of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. NVIDIA's quarterly revenue was up 69.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 EPS. Research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Bank of America lifted their price objective on shares of NVIDIA from $150.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, May 14th. 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 report on Thursday, May 29th. Needham & Company LLC reaffirmed a "buy" rating and issued a $160.00 price objective on shares of NVIDIA in a research report on Thursday, May 29th. William Blair reissued an "outperform" rating on shares of NVIDIA in a research report on Thursday, March 20th. Finally, Piper Sandler restated an "overweight" rating and issued a $180.00 target price (up previously from $150.00) on shares of NVIDIA in a research note on Wednesday, May 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have given a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.