Forge First Asset Management Inc. Buys 5,300 Shares of NVIDIA Co. (NASDAQ:NVDA)

Forge First Asset Management Inc. grew its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 219.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,710 shares of the computer hardware maker’s stock after acquiring an additional 5,300 shares during the period. Forge First Asset Management Inc.’s holdings in NVIDIA were worth $1,035,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Tacita Capital Inc bought a new stake in NVIDIA during the 4th quarter worth approximately $28,000. Legend Financial Advisors Inc. acquired a new position in shares of NVIDIA during the fourth quarter worth $34,000. Vision Financial Markets LLC bought a new stake in shares of NVIDIA in the fourth quarter worth $38,000. Luken Investment Analytics LLC acquired a new stake in NVIDIA in the fourth quarter valued at $40,000. Finally, Lowe Wealth Advisors LLC bought a new position in NVIDIA during the 4th quarter worth $46,000. 65.27% of the stock is currently owned by institutional investors and hedge funds.

NVIDIA Stock Performance

Shares of NVDA stock opened at $104.49 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64. The firm has a 50-day moving average of $117.83 and a 200-day moving average of $130.03. NVIDIA Co. has a one year low of $75.61 and a one year high of $195.95. The company has a market cap of $2.55 trillion, a P/E ratio of 41.12, a P/E/G ratio of 1.76 and a beta of 1.96.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $38.16 billion. Equities research analysts forecast that NVIDIA Co. will post 2.77 EPS for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is currently 1.36%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Susquehanna reissued a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Summit Insights downgraded shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Piper Sandler dropped their price target on shares of NVIDIA from $175.00 to $150.00 and set an “overweight” rating on the stock in a research report on Wednesday. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Citigroup lowered their target price on shares of NVIDIA from $163.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Six research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $165.64.

Insiders Place Their Bets

In related news, CFO Colette Kress sold 66,660 shares of the company’s stock in a transaction that occurred on Friday, March 21st. The stock was sold at an average price of $116.83, for a total value of $7,787,887.80. Following the transaction, the chief financial officer now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the firm’s stock in a transaction 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 directly owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,147 shares of company stock valued at $17,133,207. Insiders own 4.23% of the company’s stock.

NVIDIA 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.