Sierra Ocean LLC Acquires Shares of 15,333 NVIDIA Co. (NASDAQ:NVDA)

Sierra Ocean LLC acquired a new stake in shares of NVIDIA Co. (NASDAQ:NVDA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,333 shares of the computer hardware maker’s stock, valued at approximately $2,059,000. NVIDIA makes up about 1.7% of Sierra Ocean LLC’s investment portfolio, making the stock its 13th largest holding.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its stake in shares of NVIDIA by 12,898.6% in the third quarter. International Assets Investment Management LLC now owns 56,292,986 shares of the computer hardware maker’s stock worth $6,836,220,000 after buying an additional 55,859,917 shares in the last quarter. Clear Street Derivatives LLC purchased a new position in shares of NVIDIA in the third quarter worth about $4,589,905,000. Geode Capital Management LLC lifted its stake in shares of NVIDIA by 2.2% in the third quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock worth $66,101,133,000 after buying an additional 11,525,969 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of NVIDIA by 3.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 180,403,789 shares of the computer hardware maker’s stock worth $21,908,236,000 after buying an additional 6,526,200 shares in the last quarter. Finally, National Pension Service lifted its stake in shares of NVIDIA by 14.9% in the third quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock worth $5,734,483,000 after buying an additional 6,118,674 shares in the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at NVIDIA

In other news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 17,279 shares of the company’s stock, valued at approximately $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ajay K. Puri sold 36,462 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $151.10, for a total transaction of $5,509,408.20. Following the completion of the sale, the executive vice president now directly 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 disclosure for this sale can be found here. Insiders sold 179,109 shares of company stock worth $22,117,015 over the last 90 days. Corporate insiders own 4.23% of the company’s stock.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $117.70 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 52 week low of $75.61 and a 52 week high of $153.13. The firm’s 50 day moving average is $126.92 and its two-hundred day moving average is $131.02. The firm has a market capitalization of $2.87 trillion, a P/E ratio of 46.32, a P/E/G ratio of 1.76 and a beta of 1.77.

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

NVIDIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 2nd. Shareholders of record on Wednesday, March 12th will be paid a $0.01 dividend. The ex-dividend date is Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s dividend payout ratio is presently 1.36%.

Analyst Ratings Changes

NVDA has been the topic of several research reports. Wedbush reissued an “outperform” rating and issued a $175.00 price target on shares of NVIDIA in a research note on Thursday, February 20th. Cantor Fitzgerald restated an “overweight” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday. Bank of America restated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday. KeyCorp set a $190.00 price objective on shares of NVIDIA in a research report on Wednesday. Finally, Summit Insights cut shares of NVIDIA from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, thirty-seven have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $171.51.

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.