NVIDIA Co. (NASDAQ:NVDA) is Prossimo Advisors LLC’s 6th Largest Position

Prossimo Advisors LLC lifted its position in NVIDIA Co. (NASDAQ:NVDA) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,732 shares of the computer hardware maker’s stock after purchasing an additional 1,136 shares during the period. NVIDIA accounts for about 3.9% of Prossimo Advisors LLC’s investment portfolio, making the stock its 6th biggest position. Prossimo Advisors LLC’s holdings in NVIDIA were worth $5,336,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of NVDA. International Assets Investment Management LLC lifted its holdings in NVIDIA by 12,898.6% during 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 during the period. Clear Street Derivatives LLC acquired a new position in shares of NVIDIA in the 3rd quarter valued at $4,589,905,000. Geode Capital Management LLC increased its position in shares of NVIDIA by 2.2% in the 3rd quarter. Geode Capital Management LLC now owns 546,079,492 shares of the computer hardware maker’s stock valued at $66,101,133,000 after acquiring an additional 11,525,969 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in NVIDIA by 3.8% during the 3rd 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 purchasing an additional 6,526,200 shares during the period. Finally, National Pension Service grew its position in NVIDIA by 14.9% during the 3rd quarter. National Pension Service now owns 47,220,708 shares of the computer hardware maker’s stock worth $5,734,483,000 after purchasing an additional 6,118,674 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other news, Director Robert K. Burgess sold 53,324 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the transaction, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. This represents a 17.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $360,509,924.95. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 179,109 shares of company stock worth $22,117,015. 4.23% of the stock is currently owned by company insiders.

NVIDIA Stock Down 0.7 %

Shares of NASDAQ:NVDA opened at $117.70 on Monday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The business has a fifty day moving average of $126.92 and a two-hundred day moving average of $131.36. The stock has a market cap of $2.87 trillion, a P/E ratio of 46.32, a PEG ratio of 1.76 and a beta of 1.77. NVIDIA Co. has a 52-week low of $75.61 and a 52-week high of $153.13.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion during the quarter, compared to analysts’ expectations of $38.16 billion. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. On average, research analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Wednesday, March 12th. NVIDIA’s dividend payout ratio is presently 1.36%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NVDA. DA Davidson cut their price target on NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a research report on Thursday. KeyCorp set a $190.00 price target on NVIDIA in a research report on Wednesday. Truist Financial increased their price target on NVIDIA from $204.00 to $205.00 and gave the stock a “buy” rating in a research report on Thursday, February 27th. Susquehanna reissued a “positive” rating and set a $180.00 target price on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Bank of America restated a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Four investment analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $171.51.

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.