NVIDIA Co. (NASDAQ:NVDA) is Parallel Advisors LLC’s 5th Largest Position

Parallel Advisors LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDA) by 2.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,090,608 shares of the computer hardware maker’s stock after purchasing an additional 22,709 shares during the quarter. NVIDIA makes up 2.5% of Parallel Advisors LLC’s holdings, making the stock its 5th largest position. Parallel Advisors LLC’s holdings in NVIDIA were worth $118,205,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in NVDA. Norges Bank acquired a new stake in NVIDIA during the fourth quarter worth about $43,515,504,000. GAMMA Investing LLC grew its holdings in NVIDIA by 12,173.2% during the first quarter. GAMMA Investing LLC now owns 48,837,781 shares of the computer hardware maker’s stock worth $5,293,039,000 after acquiring an additional 48,439,859 shares during the period. Northern Trust Corp grew its holdings in NVIDIA by 15.8% during the fourth quarter. Northern Trust Corp now owns 266,454,194 shares of the computer hardware maker’s stock worth $35,782,134,000 after acquiring an additional 36,266,817 shares during the period. Proficio Capital Partners LLC grew its holdings in NVIDIA by 14,641.2% during the fourth quarter. Proficio Capital Partners LLC now owns 34,676,316 shares of the computer hardware maker’s stock worth $4,656,682,000 after acquiring an additional 34,441,082 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in NVIDIA during the fourth quarter worth about $2,987,733,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at NVIDIA

In other NVIDIA news, Director Mark A. Stevens sold 935,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $140.92, for a total transaction of $131,760,200.00. Following the completion of the sale, the director now directly owns 9,214,697 shares of the company’s stock, valued at approximately $1,298,535,101.24. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert K. Burgess sold 53,324 shares of the 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 of the company’s stock, valued at $28,993,071.56. The trade was a 17.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,255,320 shares of company stock valued at $172,680,419 in the last three months. 4.17% of the stock is currently owned by company insiders.

NVIDIA Stock Up 0.6%

Shares of NASDAQ NVDA opened at $142.63 on Tuesday. The stock has a market cap of $3.48 trillion, a PE ratio of 56.13, a price-to-earnings-growth ratio of 1.76 and a beta of 2.12. 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 Co. has a 52-week low of $86.62 and a 52-week high of $195.95. The business has a 50-day moving average price of $119.10 and a 200 day moving average price of $126.11.

NVIDIA (NASDAQ:NVDA) last announced its 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). The firm had revenue of $44.06 billion during the quarter, compared to analyst estimates of $43.09 billion. NVIDIA had a net margin of 55.69% and a return on equity of 114.83%. The firm’s revenue for the quarter was up 69.2% compared to the same quarter last year. During the same period last year, the company earned $0.61 earnings per share. Equities research analysts forecast that NVIDIA Co. will post 2.77 earnings per share for the current year.

NVIDIA Announces Dividend

The company also recently announced 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 dividend yield of 0.03%. NVIDIA’s dividend payout ratio (DPR) is presently 1.29%.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. DA Davidson raised their price objective on NVIDIA from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Thursday, May 29th. Rosenblatt Securities boosted their price objective on NVIDIA from $178.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, May 29th. Morgan Stanley reissued an “overweight” rating and set a $170.00 price objective (up previously from $160.00) on shares of NVIDIA in a research note on Thursday, May 29th. William Blair reaffirmed an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Finally, Citigroup reaffirmed a “buy” rating and issued a $180.00 price target (up previously from $150.00) on shares of NVIDIA in a research note on Thursday, May 29th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, thirty-six have given a buy rating and three have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $171.66.

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.