SlateStone Wealth LLC Has $12.45 Million Stock Holdings in NVIDIA Co. (NASDAQ:NVDA)

SlateStone Wealth LLC lifted its stake in NVIDIA Co. (NASDAQ:NVDA) by 12.2% during the fourth quarter, HoldingsChannel reports. The fund owned 25,136 shares of the computer hardware maker’s stock after purchasing an additional 2,740 shares during the quarter. NVIDIA comprises approximately 1.6% of SlateStone Wealth LLC’s holdings, making the stock its 12th biggest position. SlateStone Wealth LLC’s holdings in NVIDIA were worth $12,448,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of NVDA. CX Institutional increased its position in NVIDIA by 1.8% during the third quarter. CX Institutional now owns 7,283 shares of the computer hardware maker’s stock worth $3,168,000 after buying an additional 126 shares during the last quarter. RFG Holdings Inc. acquired a new position in NVIDIA during the third quarter worth $338,000. Galvin Gaustad & Stein LLC increased its position in NVIDIA by 25.6% during the third quarter. Galvin Gaustad & Stein LLC now owns 2,434 shares of the computer hardware maker’s stock worth $1,059,000 after buying an additional 496 shares during the last quarter. Syntegra Private Wealth Group LLC increased its position in NVIDIA by 2.4% during the third quarter. Syntegra Private Wealth Group LLC now owns 1,906 shares of the computer hardware maker’s stock worth $829,000 after buying an additional 45 shares during the last quarter. Finally, SS&H Financial Advisors Inc. acquired a new position in NVIDIA during the third quarter worth $5,550,000. 65.27% of the stock is owned by institutional investors and hedge funds.

NVIDIA Stock Performance

NASDAQ NVDA opened at $830.41 on Thursday. The firm has a market cap of $2.08 trillion, a price-to-earnings ratio of 69.55, a PEG ratio of 1.26 and a beta of 1.73. The company has a 50 day moving average of $863.93 and a 200-day moving average of $644.83. The company has a current ratio of 4.17, a quick ratio of 3.67 and a debt-to-equity ratio of 0.20. NVIDIA Co. has a 1-year low of $272.40 and a 1-year high of $974.00.

NVIDIA (NASDAQ:NVDA) last posted its quarterly earnings data on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.21 by $0.95. The company had revenue of $22.10 billion during the quarter, compared to analyst estimates of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The company’s revenue was up 265.3% on a year-over-year basis. During the same quarter last year, the business posted $0.65 earnings per share. On average, equities analysts forecast that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.04 per share. This represents a $0.16 annualized dividend and a dividend yield of 0.02%. The ex-dividend date of this dividend was Tuesday, March 5th. NVIDIA’s payout ratio is 1.34%.

Insider Transactions at NVIDIA

In related news, Director Mark A. Stevens sold 22,700 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $879.97, for a total value of $19,975,319.00. Following the completion of the transaction, the director now owns 1,052,133 shares in the company, valued at approximately $925,845,476.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Mark A. Stevens sold 22,700 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $879.97, for a total transaction of $19,975,319.00. Following the transaction, the director now owns 1,052,133 shares of the company’s stock, valued at $925,845,476.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John Dabiri sold 128 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the transaction, the director now directly owns 2,055 shares in the company, valued at approximately $1,931,700. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,278 shares of company stock valued at $52,689,898. Corporate insiders own 3.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on NVDA shares. Benchmark reissued a “buy” rating and set a $1,000.00 target price on shares of NVIDIA in a research report on Wednesday, March 20th. Loop Capital began coverage on shares of NVIDIA in a report on Friday, February 16th. They set a “buy” rating and a $1,200.00 price target for the company. TD Cowen upped their price target on shares of NVIDIA from $900.00 to $1,100.00 and gave the company an “outperform” rating in a report on Thursday, March 21st. Needham & Company LLC upped their price target on shares of NVIDIA from $600.00 to $850.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Finally, Mizuho upped their price target on shares of NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating, thirty-eight have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $941.55.

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.