Parkside Financial Bank & Trust Raises Position in NVIDIA Co. (NASDAQ:NVDA)

Parkside Financial Bank & Trust increased its holdings in NVIDIA Co. (NASDAQ:NVDA) by 10.0% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,580 shares of the computer hardware maker’s stock after buying an additional 867 shares during the period. NVIDIA accounts for approximately 0.9% of Parkside Financial Bank & Trust’s portfolio, making the stock its 21st largest holding. Parkside Financial Bank & Trust’s holdings in NVIDIA were worth $4,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in NVDA. International Assets Investment Management LLC raised its position in shares of NVIDIA by 54,019.5% in the fourth quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock worth $8,352,811,000 after buying an additional 16,835,703 shares in the last quarter. Vanguard Group Inc. increased its stake in NVIDIA by 1.1% in the third quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after acquiring an additional 2,287,471 shares during the last quarter. California Public Employees Retirement System increased its stake in NVIDIA by 31.8% in the fourth quarter. California Public Employees Retirement System now owns 7,477,385 shares of the computer hardware maker’s stock valued at $3,702,951,000 after acquiring an additional 1,805,763 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC bought a new position in NVIDIA in the third quarter valued at $728,543,000. Finally, Assenagon Asset Management S.A. increased its stake in NVIDIA by 99.5% in the third quarter. Assenagon Asset Management S.A. now owns 2,384,968 shares of the computer hardware maker’s stock valued at $1,037,437,000 after acquiring an additional 1,189,495 shares during the last quarter. Hedge funds and other institutional investors own 65.27% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on NVDA. Wells Fargo & Company increased their target price on NVIDIA from $840.00 to $970.00 and gave the company an “overweight” rating in a research note on Tuesday, March 19th. Mizuho increased their target price on NVIDIA from $850.00 to $1,000.00 and gave the company a “buy” rating in a research note on Thursday, March 7th. Evercore ISI began coverage on NVIDIA in a research note on Tuesday, April 16th. They issued an “outperform” rating and a $1,160.00 target price on the stock. Citigroup increased their target price on NVIDIA from $820.00 to $1,030.00 and gave the company a “buy” rating in a research note on Wednesday, March 20th. Finally, Bank of America raised their price objective on NVIDIA from $925.00 to $1,100.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Four analysts have rated the stock with a hold rating, thirty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $941.55.

NVIDIA Stock Performance

Shares of NVDA opened at $830.41 on Thursday. The company has a quick ratio of 3.67, a current ratio of 4.17 and a debt-to-equity ratio of 0.20. The business’s 50 day moving average price is $863.93 and its 200-day moving average price is $644.83. NVIDIA Co. has a 52 week low of $272.40 and a 52 week high of $974.00. The stock has a market cap of $2.08 trillion, a P/E ratio of 69.55, a P/E/G ratio of 1.26 and a beta of 1.73.

NVIDIA (NASDAQ:NVDA) last issued its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping analysts’ consensus estimates of $4.21 by $0.95. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The firm had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. During the same period in the previous year, the firm posted $0.65 EPS. The business’s revenue for the quarter was up 265.3% compared to the same quarter last year. Equities research analysts anticipate that NVIDIA Co. will post 22.55 earnings per share for the current fiscal year.

NVIDIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 27th. Investors of record on Wednesday, March 6th were given a $0.04 dividend. The ex-dividend date was Tuesday, March 5th. This represents a $0.16 annualized dividend and a yield of 0.02%. NVIDIA’s dividend payout ratio (DPR) is presently 1.34%.

Insider Activity at NVIDIA

In other NVIDIA news, insider Donald F. Robertson, Jr. sold 450 shares of the business’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $911.62, for a total transaction of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at approximately $45,412,350.30. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, insider Donald F. Robertson, Jr. sold 450 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $911.62, for a total value of $410,229.00. Following the completion of the sale, the insider now directly owns 49,815 shares in the company, valued at approximately $45,412,350.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $797.57, for a total value of $7,975,700.00. Following the completion of the sale, the director now owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The disclosure for this sale can be found here. In the last three months, insiders have sold 61,278 shares of company stock valued at $52,689,898. 3.99% of the stock is owned by corporate insiders.

NVIDIA 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.