NVIDIA Co. (NASDAQ:NVDA) Position Raised by SlateStone Wealth LLC

SlateStone Wealth LLC raised its holdings in shares of NVIDIA Co. (NASDAQ:NVDA) by 1.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 306,679 shares of the computer hardware maker’s stock after purchasing an additional 3,435 shares during the period. NVIDIA accounts for 4.0% of SlateStone Wealth LLC’s portfolio, making the stock its 2nd largest position. SlateStone Wealth LLC’s holdings in NVIDIA were worth $41,184,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Hickory Point Bank & Trust bought a new stake in NVIDIA in the fourth quarter worth $2,272,000. Capital Performance Advisors LLP boosted its stake in NVIDIA by 59.3% in the 4th quarter. Capital Performance Advisors LLP now owns 26,700 shares of the computer hardware maker’s stock worth $3,586,000 after purchasing an additional 9,944 shares in the last quarter. Ethos Financial Group LLC increased its stake in NVIDIA by 24.1% during the 4th quarter. Ethos Financial Group LLC now owns 32,092 shares of the computer hardware maker’s stock valued at $4,312,000 after purchasing an additional 6,241 shares in the last quarter. Metis Global Partners LLC lifted its stake in shares of NVIDIA by 3.6% in the fourth quarter. Metis Global Partners LLC now owns 1,464,826 shares of the computer hardware maker’s stock worth $196,711,000 after buying an additional 50,978 shares in the last quarter. Finally, Candriam S.C.A. grew its holdings in shares of NVIDIA by 0.5% during the fourth quarter. Candriam S.C.A. now owns 7,061,058 shares of the computer hardware maker’s stock valued at $948,229,000 after buying an additional 35,684 shares during the last quarter. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Barclays lifted their price objective on NVIDIA from $160.00 to $175.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Rosenblatt Securities dropped their target price on shares of NVIDIA from $220.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Wedbush reiterated an “outperform” rating and set a $175.00 target price on shares of NVIDIA in a research note on Wednesday, April 16th. Susquehanna restated a “positive” rating and issued a $180.00 price target on shares of NVIDIA in a research note on Wednesday, March 19th. Finally, Tigress Financial reiterated a “buy” rating on shares of NVIDIA in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating, thirty-six have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $165.51.

Insiders Place Their Bets

In other news, Director Robert K. Burgess sold 53,324 shares of NVIDIA stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $115.49, for a total transaction of $6,158,388.76. Following the completion of the sale, the director now directly owns 251,044 shares in the company, valued at approximately $28,993,071.56. This trade represents a 17.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John Dabiri sold 2,663 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $110.00, for a total transaction of $292,930.00. Following the completion of the transaction, the director now owns 17,279 shares in the company, valued at approximately $1,900,690. The trade was a 13.35 % 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 valued at $17,133,207 over the last 90 days. Insiders own 4.23% of the company’s stock.

NVIDIA Trading Down 3.0 %

Shares of NVDA stock opened at $101.33 on Monday. The company has a market cap of $2.47 trillion, a PE ratio of 39.88, a price-to-earnings-growth ratio of 1.76 and a beta of 1.96. NVIDIA Co. has a 1 year low of $76.40 and a 1 year high of $195.95. The stock’s 50 day simple moving average is $116.56 and its two-hundred day simple moving average is $129.90. The company has a debt-to-equity ratio of 0.13, a current ratio of 4.10 and a quick ratio of 3.64.

NVIDIA (NASDAQ:NVDA) last released its quarterly earnings results on Wednesday, February 26th. The computer hardware maker reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.05. NVIDIA had a return on equity of 114.83% and a net margin of 55.69%. The company had revenue of $39.33 billion for the quarter, compared to analyst estimates of $38.16 billion. Research analysts predict 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 was paid on Wednesday, April 2nd. Investors of record on Wednesday, March 12th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Wednesday, March 12th. NVIDIA’s dividend payout ratio (DPR) 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.