Pacific Heights Asset Management LLC Sells 525,000 Shares of NVIDIA Co. (NASDAQ:NVDA)

Pacific Heights Asset Management LLC trimmed its holdings in NVIDIA Co. (NASDAQ:NVDA) by 61.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 335,000 shares of the computer hardware maker’s stock after selling 525,000 shares during the quarter. NVIDIA makes up approximately 2.9% of Pacific Heights Asset Management LLC’s holdings, making the stock its 11th biggest position. Pacific Heights Asset Management LLC’s holdings in NVIDIA were worth $44,987,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NVDA. Tacita Capital Inc purchased a new stake in shares of NVIDIA in the fourth quarter worth about $28,000. Legend Financial Advisors Inc. bought a new stake in NVIDIA in the 4th quarter worth approximately $34,000. Vision Financial Markets LLC purchased a new stake in shares of NVIDIA during the 4th quarter worth approximately $38,000. Luken Investment Analytics LLC bought a new position in shares of NVIDIA during the 4th quarter valued at approximately $40,000. Finally, Lowe Wealth Advisors LLC purchased a new position in shares of NVIDIA in the fourth quarter valued at $46,000. 65.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NVDA shares. Morgan Stanley set a $162.00 price target on shares of NVIDIA and gave the company an “overweight” rating in a research note on Wednesday, March 19th. Bank of America reaffirmed a “buy” rating and issued a $200.00 price target on shares of NVIDIA in a report on Wednesday, March 19th. William Blair reissued an “outperform” rating on shares of NVIDIA in a research note on Thursday, March 20th. Hsbc Global Res lowered NVIDIA from a “strong-buy” rating to a “hold” rating in a research note on Thursday, April 3rd. Finally, DA Davidson dropped their target price on NVIDIA from $135.00 to $125.00 and set a “neutral” rating for the company in a report on Thursday, March 20th. Six investment analysts have rated the stock with a hold rating, thirty-six have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, NVIDIA presently has an average rating of “Moderate Buy” and an average target price of $168.39.

Insider Buying and Selling

In other news, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $110.00, for a total transaction of $292,930.00. Following the transaction, the director now owns 17,279 shares in the company, valued at $1,900,690. This represents a 13.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Donald F. Robertson, Jr. sold 4,500 shares of NVIDIA stock in a transaction that occurred 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 completion of the sale, the insider now owns 479,428 shares of the company’s stock, valued at $55,997,190.40. This trade represents a 0.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 147,147 shares of company stock worth $17,133,207 in the last 90 days. 4.23% of the stock is owned by corporate insiders.

NVIDIA Stock Up 3.1 %

NVIDIA stock opened at $110.93 on Friday. The company has a quick ratio of 3.64, a current ratio of 4.10 and a debt-to-equity ratio of 0.13. The firm has a market cap of $2.71 trillion, a P/E ratio of 43.66, a P/E/G ratio of 1.76 and a beta of 1.96. The business has a fifty day moving average of $118.95 and a two-hundred day moving average of $130.36. NVIDIA Co. has a twelve month low of $75.61 and a twelve month high of $195.95.

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

NVIDIA Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 2nd. Stockholders of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s payout ratio is currently 1.36%.

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.