Bamco Inc. NY Has $84.48 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Posted by Defense World Staff on Jun 14th, 2023

Bamco Inc. NY boosted its position in NVIDIA Co. (NASDAQ:NVDA – Get Rating) by 3.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 578,093 shares of the computer hardware maker’s stock after purchasing an additional 17,524 shares during the period. Bamco Inc. NY’s holdings in NVIDIA were worth $84,483,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of NVDA. Jennison Associates LLC increased its holdings in NVIDIA by 34.8% in the 4th quarter. Jennison Associates LLC now owns 23,299,291 shares of the computer hardware maker’s stock worth $3,404,958,000 after purchasing an additional 6,013,647 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of NVIDIA by 9.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 56,956,988 shares of the computer hardware maker’s stock valued at $8,323,694,000 after buying an additional 5,043,685 shares during the last quarter. Coatue Management LLC grew its position in shares of NVIDIA by 6,749.0% in the 3rd quarter. Coatue Management LLC now owns 3,384,288 shares of the computer hardware maker’s stock valued at $410,818,000 after buying an additional 3,334,875 shares during the last quarter. Matrix Capital Management Company LP grew its position in shares of NVIDIA by 181.8% in the 4th quarter. Matrix Capital Management Company LP now owns 5,073,000 shares of the computer hardware maker’s stock valued at $741,368,000 after buying an additional 3,273,000 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of NVIDIA by 1.2% in the 3rd quarter. Vanguard Group Inc. now owns 203,747,246 shares of the computer hardware maker’s stock valued at $24,732,878,000 after buying an additional 2,326,387 shares during the last quarter. Institutional investors and hedge funds own 61.80% of the company’s stock.

Insiders Place Their Bets

In other NVIDIA news, Director John Dabiri sold 383 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $384.89, for a total value of $147,412.87. Following the completion of the sale, the director now directly owns 2,034 shares of the company’s stock, valued at $782,866.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Colette Kress sold 6,124 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $406.51, for a total value of $2,489,467.24. Following the completion of the transaction, the chief financial officer now directly owns 538,745 shares of the company’s stock, valued at $219,005,229.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Dabiri sold 383 shares of the firm’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $384.89, for a total value of $147,412.87. Following the completion of the transaction, the director now directly owns 2,034 shares of the company’s stock, valued at $782,866.26. The disclosure for this sale can be found here. Insiders sold 134,591 shares of company stock valued at $48,950,250 over the last ninety days. 3.99% of the stock is currently owned by insiders.

NVIDIA Stock Performance

Shares of NVDA opened at $410.22 on Wednesday. The company has a current ratio of 3.43, a quick ratio of 2.79 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $1.01 trillion, a price-to-earnings ratio of 213.66, a PEG ratio of 2.68 and a beta of 1.75. The stock has a 50 day moving average of $312.37 and a 200 day moving average of $240.56. NVIDIA Co. has a 12 month low of $108.13 and a 12 month high of $419.38.

NVIDIA (NASDAQ:NVDA – Get Rating) last issued its quarterly earnings results on Wednesday, May 24th. The computer hardware maker reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.17. The company had revenue of $7.19 billion during the quarter, compared to the consensus estimate of $6.52 billion. NVIDIA had a return on equity of 23.63% and a net margin of 18.52%. NVIDIA’s revenue was down 13.2% on a year-over-year basis. During the same period last year, the business posted $1.18 earnings per share. As a group, sell-side analysts forecast that NVIDIA Co. will post 6.29 earnings per share for the current year.

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, June 8th will be given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date is Wednesday, June 7th. NVIDIA’s dividend payout ratio is currently 8.33%.

Analyst Ratings Changes

A number of research firms have commented on NVDA. Oppenheimer upped their price target on NVIDIA from $350.00 to $420.00 in a research report on Thursday, May 25th. StockNews.com initiated coverage on NVIDIA in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Robert W. Baird upgraded NVIDIA from a “neutral” rating to an “outperform” rating and upped their target price for the company from $300.00 to $475.00 in a research report on Thursday, May 25th. Piper Sandler upped their target price on NVIDIA from $300.00 to $440.00 in a research report on Thursday, May 25th. Finally, BNP Paribas upgraded NVIDIA from an “underperform” rating to a “neutral” rating and set a $230.00 target price on the stock in a research report on Tuesday, March 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, NVIDIA has an average rating of “Moderate Buy” and a consensus target price of $381.08.

About NVIDIA

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NVIDIA Corp. engages in the design and manufacture of computer graphics processors, chipsets, and related multimedia software. It operates through the following segments: Graphics Processing Unit (GPU), Tegra Processor, and All Other. The GPU segment consists of product brands, including GeForce for gamers, Quadro for designers, Tesla and DGX for AI data scientists and big data researchers, and GRID for cloud-based visual computing users.