Chaney Capital Management Inc. Has $672,000 Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Chaney Capital Management Inc. lifted its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 27.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 744 shares of the computer hardware maker’s stock after buying an additional 158 shares during the period. NVIDIA comprises approximately 0.5% of Chaney Capital Management Inc.’s investment portfolio, making the stock its 17th biggest position. Chaney Capital Management Inc.’s holdings in NVIDIA were worth $672,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Norges Bank acquired a new position in NVIDIA in the 4th quarter valued at approximately $14,606,369,000. International Assets Investment Management LLC increased its holdings in NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after purchasing an additional 16,835,703 shares during the period. Global Assets Advisory LLC bought a new position in NVIDIA during the 1st quarter worth $4,826,280,000. Vanguard Group Inc. lifted its holdings in NVIDIA by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock worth $88,598,850,000 after buying an additional 2,287,471 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in NVIDIA by 44.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 6,349,610 shares of the computer hardware maker’s stock worth $3,144,490,000 after buying an additional 1,941,637 shares during the period. 65.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NVDA has been the topic of several analyst reports. JPMorgan Chase & Co. upped their target price on NVIDIA from $650.00 to $850.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Citigroup increased their price objective on shares of NVIDIA from $820.00 to $1,030.00 and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Oppenheimer upped their price target on shares of NVIDIA from $850.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Tigress Financial lifted their price objective on NVIDIA from $790.00 to $985.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Finally, Benchmark reaffirmed a “buy” rating and set a $1,000.00 target price on shares of NVIDIA in a research note on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $940.30.

NVIDIA Stock Performance

Shares of NASDAQ NVDA traded up $0.22 during midday trading on Monday, reaching $877.57. The company’s stock had a trading volume of 38,801,024 shares, compared to its average volume of 52,003,020. The stock has a market capitalization of $2.19 trillion, a P/E ratio of 73.50, a PEG ratio of 1.26 and a beta of 1.73. The company has a debt-to-equity ratio of 0.20, a current ratio of 4.17 and a quick ratio of 3.67. The firm has a 50 day moving average price of $857.43 and a 200-day moving average price of $640.64. NVIDIA Co. has a 12-month low of $272.40 and a 12-month high of $974.00.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The business’s revenue was up 265.3% on a year-over-year basis. As a group, equities analysts predict that NVIDIA Co. will post 22.55 earnings per share for the current year.

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were issued a dividend of $0.04 per share. The ex-dividend date of this dividend was Tuesday, March 5th. This represents a $0.16 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is presently 1.34%.

Insiders Place Their Bets

In other news, Director John Dabiri sold 128 shares of the stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $940.00, for a total transaction of $120,320.00. Following the completion of the transaction, the director now directly owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the sale, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 128 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $940.00, for a total transaction of $120,320.00. Following the transaction, the director now owns 2,055 shares of the company’s stock, valued at approximately $1,931,700. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 61,278 shares of company stock valued at $52,689,898. Company insiders own 3.99% of the company’s stock.

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.