Pasadena Private Wealth LLC Grows Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Pasadena Private Wealth LLC lifted its holdings in NVIDIA Co. (NASDAQ:NVDA) by 23.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,012 shares of the computer hardware maker’s stock after purchasing an additional 1,524 shares during the period. Pasadena Private Wealth LLC’s holdings in NVIDIA were worth $1,076,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC raised its position in 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 acquiring an additional 55,859,917 shares during the period. Clear Street Derivatives LLC bought a new position in NVIDIA in the 3rd quarter worth $4,589,905,000. Geode Capital Management LLC lifted its position in NVIDIA by 2.2% during the third 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 purchasing an additional 11,525,969 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in NVIDIA by 3.8% during 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 valued at $21,908,236,000 after purchasing an additional 6,526,200 shares during the period. Finally, National Pension Service increased its position in 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. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on NVDA shares. Stifel Nicolaus set a $180.00 price objective on NVIDIA in a research report on Wednesday, March 19th. Mizuho dropped their price target on shares of NVIDIA from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Friday, March 14th. Bank of America restated a “buy” rating and set a $200.00 price objective on shares of NVIDIA in a research report on Wednesday, March 19th. Morgan Stanley set a $162.00 target price on shares of NVIDIA and gave the company an “overweight” rating in a research note on Wednesday, March 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $200.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and a consensus price target of $171.51.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $121.41 on Tuesday. NVIDIA Co. has a 52 week low of $75.61 and a 52 week high of $153.13. The company has a market capitalization of $2.96 trillion, a PE ratio of 47.78, a price-to-earnings-growth ratio of 1.76 and a beta of 1.77. The stock’s fifty day moving average is $126.68 and its two-hundred day moving average is $131.46. 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 (NASDAQ:NVDA) last posted its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 EPS for the quarter, topping the consensus estimate of $0.84 by $0.05. The company had revenue of $39.33 billion for the quarter, compared to the consensus estimate of $38.16 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. As a group, analysts expect that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Dividend Announcement

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

Insider Buying and Selling

In related news, 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 value 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. This represents a 0.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $116.83, for a total transaction of $7,787,887.80. Following the transaction, the chief financial officer now directly owns 3,085,765 shares in the company, valued at $360,509,924.95. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 179,109 shares of company stock valued at $22,117,015 over the last quarter. 4.23% of the stock is owned by corporate insiders.

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.