Bowie Capital Management LLC Makes New Investment in NVIDIA Co. (NASDAQ:NVDA)

Bowie Capital Management LLC bought a new position in NVIDIA Co. (NASDAQ:NVDA) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 51,110 shares of the computer hardware maker’s stock, valued at approximately $6,207,000. NVIDIA comprises approximately 0.3% of Bowie Capital Management LLC’s portfolio, making the stock its 23rd biggest holding.

A number of other institutional investors have also added to or reduced their stakes in the business. Quest Partners LLC bought a new position in NVIDIA during the 2nd quarter worth approximately $27,000. Christopher J. Hasenberg Inc bought a new position in NVIDIA during the 3rd quarter worth approximately $27,000. University of Texas Texas AM Investment Management Co. bought a new position in NVIDIA during the 2nd quarter worth approximately $31,000. West Financial Advisors LLC bought a new position in NVIDIA during the 3rd quarter worth approximately $36,000. Finally, DHJJ Financial Advisors Ltd. grew its position in NVIDIA by 70.0% during the 3rd quarter. DHJJ Financial Advisors Ltd. now owns 340 shares of the computer hardware maker’s stock worth $41,000 after acquiring an additional 140 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NVDA. JPMorgan Chase & Co. raised their price target on NVIDIA from $155.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Loop Capital reiterated a “buy” rating and issued a $175.00 price objective on shares of NVIDIA in a report on Wednesday, November 20th. Redburn Atlantic initiated coverage on NVIDIA in a report on Tuesday, November 12th. They issued a “buy” rating and a $178.00 price objective for the company. Mizuho increased their price objective on NVIDIA from $165.00 to $175.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, Truist Financial increased their price objective on NVIDIA from $148.00 to $167.00 and gave the stock a “buy” rating in a report on Tuesday, November 19th. Four research analysts have rated the stock with a hold rating, thirty-nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $164.63.

NVIDIA Price Performance

Shares of NVIDIA stock opened at $135.91 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. NVIDIA Co. has a twelve month low of $53.56 and a twelve month high of $153.13. The business has a 50-day moving average price of $139.90 and a 200 day moving average price of $128.66. The firm has a market cap of $3.33 trillion, a PE ratio of 53.49, a P/E/G ratio of 2.43 and a beta of 1.64.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, November 20th. The computer hardware maker reported $0.81 EPS for the quarter, topping the consensus estimate of $0.69 by $0.12. The company had revenue of $35.08 billion during the quarter, compared to analyst estimates of $33.15 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. NVIDIA’s quarterly revenue was up 93.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.38 EPS. Sell-side analysts predict that NVIDIA Co. will post 2.78 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Investors of record on Thursday, December 5th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend was Thursday, December 5th. NVIDIA’s dividend payout ratio is presently 1.57%.

Insider Activity at NVIDIA

In other NVIDIA news, EVP Ajay K. Puri sold 36,462 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $151.10, for a total value of $5,509,408.20. Following the sale, the executive vice president now owns 3,902,888 shares of the company’s stock, valued at $589,726,376.80. The trade was a 0.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $135.28, for a total value of $608,760.00. Following the completion of the sale, the insider now directly owns 480,899 shares in the company, valued at approximately $65,056,016.72. 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 1,108,348 shares of company stock worth $146,506,958. Insiders own 4.23% of the company’s stock.

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.