Summit Financial LLC Has $11.89 Million Holdings in NVIDIA Co. (NASDAQ:NVDA)

Summit Financial LLC increased its stake in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 14.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,333 shares of the computer hardware maker’s stock after buying an additional 3,526 shares during the quarter. NVIDIA accounts for about 0.9% of Summit Financial LLC’s investment portfolio, making the stock its 15th largest position. Summit Financial LLC’s holdings in NVIDIA were worth $11,889,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Peoples Financial Services CORP. acquired a new stake in NVIDIA during the 3rd quarter valued at $30,000. Your Advocates Ltd. LLP acquired a new stake in NVIDIA during the 3rd quarter valued at $30,000. Marquette Asset Management LLC acquired a new stake in NVIDIA during the 2nd quarter valued at $34,000. Quarry LP acquired a new stake in NVIDIA during the 1st quarter valued at $34,000. Finally, Compass Wealth Management LLC acquired a new stake in NVIDIA during the 4th quarter valued at $39,000. Institutional investors own 64.79% of the company’s stock.

Insider Activity at NVIDIA

In related news, Director Mark A. Stevens sold 36,000 shares of NVIDIA stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $546.95, for a total value of $19,690,200.00. Following the sale, the director now owns 1,134,583 shares of the company’s stock, valued at $620,560,171.85. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $483.18, for a total value of $4,831,800.00. Following the transaction, the director now owns 989,831 shares of the company’s stock, valued at $478,266,542.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Mark A. Stevens sold 36,000 shares of the company’s stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $546.95, for a total value of $19,690,200.00. Following the completion of the transaction, the director now directly owns 1,134,583 shares in the company, valued at approximately $620,560,171.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 155,216 shares of company stock valued at $79,810,950. 3.99% of the stock is owned by insiders.

NVIDIA Stock Performance

Shares of NVIDIA stock opened at $721.33 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.59 and a quick ratio of 3.06. The stock’s 50-day moving average is $545.55 and its 200-day moving average is $485.68. The firm has a market cap of $1.78 trillion, a price-to-earnings ratio of 95.16, a price-to-earnings-growth ratio of 2.89 and a beta of 1.69. NVIDIA Co. has a one year low of $204.21 and a one year high of $721.85.

NVIDIA (NASDAQ:NVDAGet Free Report) last released its earnings results on Tuesday, November 21st. The computer hardware maker reported $4.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.03 by $0.99. The business had revenue of $18.12 billion for the quarter, compared to the consensus estimate of $16.19 billion. NVIDIA had a return on equity of 72.28% and a net margin of 42.10%. NVIDIA’s quarterly revenue was up 205.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.34 earnings per share. Equities analysts predict that NVIDIA Co. will post 11.09 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Investors of record on Wednesday, December 6th were given a $0.04 dividend. This represents a $0.16 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Tuesday, December 5th. NVIDIA’s dividend payout ratio is currently 2.11%.

Analyst Upgrades and Downgrades

NVDA has been the subject of several research reports. Truist Financial lifted their target price on NVIDIA from $668.00 to $674.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. Morgan Stanley lifted their target price on NVIDIA from $603.00 to $750.00 and gave the company an “overweight” rating in a research note on Wednesday, February 7th. Piper Sandler reissued an “overweight” rating and issued a $620.00 target price on shares of NVIDIA in a research note on Friday, November 17th. UBS Group lifted their target price on NVIDIA from $560.00 to $580.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. Finally, Citigroup lowered their target price on NVIDIA from $630.00 to $575.00 and set a “buy” rating for the company in a research note on Wednesday, October 18th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, thirty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $616.35.

Read Our Latest Stock Report on NVDA

NVIDIA Company Profile

(Free Report)

NVIDIA Corporation provides graphics, and compute and networking solutions in the United States, Taiwan, China, and internationally. The company's 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; vGPU software for cloud-based visual and virtual computing; automotive platforms for infotainment systems; and Omniverse software for building 3D designs and virtual worlds.

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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