NVIDIA Co. (NASDAQ:NVDA) Stake Boosted by Parcion Private Wealth LLC

Parcion Private Wealth LLC raised its stake in NVIDIA Co. (NASDAQ:NVDA) by 24.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 227,184 shares of the computer hardware maker’s stock after purchasing an additional 44,153 shares during the quarter. NVIDIA accounts for 2.3% of Parcion Private Wealth LLC’s portfolio, making the stock its 10th biggest position. Parcion Private Wealth LLC’s holdings in NVIDIA were worth $27,589,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in NVDA. Hamilton Wealth LLC increased its holdings in shares of NVIDIA by 0.3% during the first quarter. Hamilton Wealth LLC now owns 3,142 shares of the computer hardware maker’s stock valued at $2,839,000 after acquiring an additional 9 shares in the last quarter. FSA Wealth Management LLC raised its holdings in NVIDIA by 3.0% in the first quarter. FSA Wealth Management LLC now owns 486 shares of the computer hardware maker’s stock worth $439,000 after buying an additional 14 shares during the last quarter. Clean Yield Group grew its holdings in shares of NVIDIA by 0.8% during the first quarter. Clean Yield Group now owns 1,795 shares of the computer hardware maker’s stock valued at $1,622,000 after buying an additional 15 shares during the last quarter. Aspect Partners LLC increased its position in shares of NVIDIA by 5.6% during the first quarter. Aspect Partners LLC now owns 320 shares of the computer hardware maker’s stock valued at $289,000 after acquiring an additional 17 shares in the last quarter. Finally, Cedar Point Capital Partners LLC raised its holdings in NVIDIA by 6.0% in the 1st quarter. Cedar Point Capital Partners LLC now owns 492 shares of the computer hardware maker’s stock worth $445,000 after acquiring an additional 28 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Insider Transactions at NVIDIA

In other NVIDIA news, CFO Colette Kress sold 66,670 shares of the business’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $116.59, for a total value of $7,773,055.30. Following the completion of the sale, the chief financial officer now directly owns 4,954,214 shares of the company’s stock, valued at $577,611,810.26. The trade was a 1.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 716 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $142.00, for a total transaction of $101,672.00. Following the transaction, the director now directly owns 19,942 shares in the company, valued at approximately $2,831,764. This trade represents a 3.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,796,986 shares of company stock worth $214,418,399. 4.23% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on NVDA. Sanford C. Bernstein increased their target price on NVIDIA from $130.00 to $155.00 and gave the company an “outperform” rating in a research note on Thursday, August 29th. Morgan Stanley lifted their price objective on NVIDIA from $150.00 to $160.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Melius Research upped their target price on shares of NVIDIA from $165.00 to $185.00 and gave the company a “buy” rating in a research note on Monday, November 11th. UBS Group boosted their price objective on shares of NVIDIA from $150.00 to $185.00 and gave the company a “buy” rating in a report on Monday, November 11th. Finally, Cantor Fitzgerald restated an “overweight” rating and issued a $175.00 target price on shares of NVIDIA in a report on Thursday, November 21st. Four equities research analysts have rated the stock with a hold rating, thirty-nine have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $164.15.

NVIDIA Trading Down 0.1 %

NVDA stock opened at $145.06 on Friday. The firm has a fifty day moving average price of $137.74 and a 200 day moving average price of $125.04. NVIDIA Co. has a fifty-two week low of $45.41 and a fifty-two week high of $152.89. The firm has a market cap of $3.55 trillion, a PE ratio of 57.11, a price-to-earnings-growth ratio of 2.54 and a beta of 1.63. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results 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%. The firm’s revenue was up 93.6% on a year-over-year basis. During the same quarter last year, the business posted $0.38 earnings per share. Sell-side analysts anticipate that NVIDIA Co. will post 2.76 earnings per share for the current fiscal year.

NVIDIA announced that its board has authorized a stock repurchase plan on Wednesday, August 28th that permits the company to repurchase $50.00 billion in shares. This repurchase authorization permits the computer hardware maker to repurchase up to 1.6% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

NVIDIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Thursday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 5th. This represents a $0.04 annualized dividend and a yield of 0.03%. NVIDIA’s payout ratio is 1.57%.

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.