Park Square Financial Group LLC bought a new stake in NVIDIA Co. (NASDAQ:NVDA – Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 122,151 shares of the computer hardware maker’s stock, valued at approximately $16,404,000. NVIDIA accounts for 11.3% of Park Square Financial Group LLC’s investment portfolio, making the stock its biggest position.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Tacita Capital Inc purchased a new stake in shares of NVIDIA in the 4th quarter valued at approximately $28,000. Vision Financial Markets LLC purchased a new stake in NVIDIA in the fourth quarter valued at approximately $38,000. Luken Investment Analytics LLC purchased a new stake in NVIDIA in the fourth quarter valued at approximately $40,000. LSV Asset Management purchased a new stake in shares of NVIDIA in the 4th quarter valued at $54,000. Finally, Delos Wealth Advisors LLC raised its holdings in shares of NVIDIA by 134.8% in the 4th quarter. Delos Wealth Advisors LLC now owns 493 shares of the computer hardware maker’s stock valued at $66,000 after buying an additional 283 shares during the period. Hedge funds and other institutional investors own 65.27% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on NVDA. TD Cowen boosted their price objective on NVIDIA from $140.00 to $175.00 and gave the company a “buy” rating in a report on Thursday, May 29th. Hsbc Global Res lowered shares of NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 target price on shares of NVIDIA in a research note on Thursday, May 29th. Citigroup reaffirmed a “buy” rating and set a $180.00 target price (up from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. Finally, Seaport Res Ptn raised NVIDIA to a “strong sell” rating in a research report on Wednesday, April 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirty-six have issued a buy rating and three have given a strong buy rating to the stock. Based on data from MarketBeat.com, NVIDIA currently has a consensus rating of “Moderate Buy” and a consensus price target of $171.66.
Insider Activity at NVIDIA
In related news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction that occurred on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total value of $6,158,388.76. Following the sale, the director now directly owns 251,044 shares in the company, valued at $28,993,071.56. The trade was a 17.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of the business’s stock in a transaction on Friday, March 21st. The stock was sold at an average price of $116.80, for a total transaction of $525,600.00. Following the sale, the insider now owns 479,428 shares in the company, valued at $55,997,190.40. The trade was a 0.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,257,983 shares of company stock worth $172,973,349 in the last three months. Insiders own 4.17% of the company’s stock.
NVIDIA Trading Up 1.2%
Shares of NVIDIA stock opened at $141.72 on Friday. NVIDIA Co. has a 1 year low of $86.62 and a 1 year high of $195.95. The company has a debt-to-equity ratio of 0.13, a quick ratio of 3.64 and a current ratio of 4.10. The company has a market capitalization of $3.46 trillion, a P/E ratio of 55.77, a PEG ratio of 1.76 and a beta of 2.12. The company’s fifty day moving average is $118.45 and its two-hundred day moving average is $126.38.
NVIDIA (NASDAQ:NVDA – Get Free Report) last released its quarterly earnings results on Wednesday, May 28th. The computer hardware maker reported $0.81 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.06). NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $44.06 billion for the quarter, compared to analysts’ expectations of $43.09 billion. During the same period in the prior year, the business earned $0.61 EPS. The business’s quarterly revenue was up 69.2% compared to the same quarter last year. Analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.
NVIDIA Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, June 11th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is 1.29%.
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.
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