Sunpointe LLC Has $6.74 Million Stock Position in NVIDIA Co. (NASDAQ:NVDA)

Sunpointe LLC increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,177 shares of the computer hardware maker’s stock after acquiring an additional 2,289 shares during the period. NVIDIA comprises 3.4% of Sunpointe LLC’s investment portfolio, making the stock its 5th biggest holding. Sunpointe LLC’s holdings in NVIDIA were worth $6,738,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Elk River Wealth Management LLC lifted its position in shares of NVIDIA by 0.6% during the 4th quarter. Elk River Wealth Management LLC now owns 50,335 shares of the computer hardware maker’s stock worth $6,759,000 after buying an additional 318 shares in the last quarter. Corps Capital Advisors LLC purchased a new stake in shares of NVIDIA during the fourth quarter worth $5,192,000. Cumberland Partners Ltd boosted its stake in NVIDIA by 6.5% in the 4th quarter. Cumberland Partners Ltd now owns 139,284 shares of the computer hardware maker’s stock worth $18,704,000 after purchasing an additional 8,529 shares during the period. Abacus Planning Group Inc. boosted its position in shares of NVIDIA by 7.0% in the fourth quarter. Abacus Planning Group Inc. now owns 36,289 shares of the computer hardware maker’s stock valued at $4,873,000 after acquiring an additional 2,360 shares during the period. Finally, Emerald Advisors LLC boosted its holdings in NVIDIA by 17.4% in the 4th quarter. Emerald Advisors LLC now owns 14,348 shares of the computer hardware maker’s stock valued at $1,927,000 after purchasing an additional 2,127 shares during the period. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NVDA shares. Benchmark reissued a “buy” rating and set a $190.00 price objective on shares of NVIDIA in a report on Wednesday, March 19th. KeyCorp set a $190.00 price objective on NVIDIA in a research note on Wednesday, March 19th. DA Davidson cut their target price on shares of NVIDIA from $135.00 to $125.00 and set a “neutral” rating on the stock in a report on Thursday, March 20th. Rosenblatt Securities restated a “buy” rating and set a $220.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. Finally, Morgan Stanley set a $162.00 price objective on shares of NVIDIA and gave the stock an “overweight” rating in a report on Wednesday, March 19th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, NVIDIA currently has an average rating of “Moderate Buy” and a consensus target price of $171.51.

NVIDIA Trading Down 0.6 %

Shares of NVDA stock opened at $120.69 on Wednesday. The stock has a market capitalization of $2.94 trillion, a P/E ratio of 47.50, a P/E/G ratio of 1.76 and a beta of 1.77. The company has a current ratio of 4.10, a quick ratio of 3.64 and a debt-to-equity ratio of 0.13. The firm’s 50 day moving average is $126.46 and its 200 day moving average is $131.58. NVIDIA Co. has a 12-month low of $75.61 and a 12-month high of $153.13.

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

NVIDIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th will be paid 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 (DPR) is 1.36%.

Insider Buying and Selling

In related news, Director John Dabiri sold 2,663 shares of NVIDIA stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total value of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. This trade represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Colette Kress sold 66,660 shares of the firm’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 3,085,765 shares of the company’s stock, valued at $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 quarter, insiders sold 183,609 shares of company stock valued at $22,642,615. Company insiders own 4.23% of the company’s stock.

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.