Pacific Global Investment Management Co. Decreases Position in NVIDIA Co. (NASDAQ:NVDA)

Pacific Global Investment Management Co. trimmed its holdings in shares of NVIDIA Co. (NASDAQ:NVDAFree Report) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,236 shares of the computer hardware maker’s stock after selling 639 shares during the quarter. NVIDIA accounts for about 1.6% of Pacific Global Investment Management Co.’s portfolio, making the stock its 14th largest position. Pacific Global Investment Management Co.’s holdings in NVIDIA were worth $8,040,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NVDA. International Assets Investment Management LLC increased its position in shares of NVIDIA by 54,019.5% in the 4th quarter. International Assets Investment Management LLC now owns 16,866,869 shares of the computer hardware maker’s stock valued at $8,352,811,000 after acquiring an additional 16,835,703 shares during the period. Vanguard Group Inc. grew its stake in NVIDIA by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 203,680,199 shares of the computer hardware maker’s stock valued at $88,598,850,000 after purchasing an additional 2,287,471 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of NVIDIA by 44.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,349,610 shares of the computer hardware maker’s stock valued at $3,144,490,000 after purchasing an additional 1,941,637 shares during the period. California Public Employees Retirement System raised its stake in shares of 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 worth $3,702,951,000 after purchasing an additional 1,805,763 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of NVIDIA during the third quarter worth about $728,543,000. 65.27% of the stock is currently owned by hedge funds and other institutional investors.

NVIDIA Trading Down 2.0 %

Shares of NVDA opened at $924.79 on Monday. NVIDIA Co. has a 12-month low of $298.06 and a 12-month high of $974.00. The firm has a market capitalization of $2.27 trillion, a P/E ratio of 77.45, a P/E/G ratio of 1.31 and a beta of 1.75. The firm has a 50-day moving average price of $882.98 and a 200 day moving average price of $687.42. 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 (NASDAQ:NVDAGet Free Report) last posted its quarterly earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.21 by $0.95. The business had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a net margin of 48.85% and a return on equity of 93.61%. The business’s revenue for the quarter was up 265.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.65 EPS. Sell-side analysts forecast that NVIDIA Co. will post 22.9 EPS for the current year.

NVIDIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 27th. Shareholders 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 dividend on an annualized basis and a yield of 0.02%. NVIDIA’s dividend payout ratio is currently 1.34%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Sanford C. Bernstein raised their price target on shares of NVIDIA from $700.00 to $1,000.00 and gave the stock an “outperform” rating in a research report on Thursday, February 22nd. Needham & Company LLC boosted their target price on shares of NVIDIA from $600.00 to $850.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. UBS Group increased their price target on NVIDIA from $1,100.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Tuesday, April 30th. Benchmark reissued a “buy” rating and issued a $1,000.00 price objective on shares of NVIDIA in a report on Wednesday, March 20th. Finally, Wolfe Research raised their target price on NVIDIA from $630.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, February 22nd. Four investment 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $966.55.

View Our Latest Stock Analysis on NVDA

Insider Activity

In related news, Director Mark A. Stevens sold 10,000 shares of the business’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $797.57, for a total value of $7,975,700.00. Following the sale, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Mark A. Stevens sold 10,000 shares of NVIDIA stock in a transaction that occurred on Friday, February 23rd. The shares were 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 in the company, valued at approximately $896,933,663.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mark A. Stevens sold 5,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $800.74, for a total value of $4,003,700.00. Following the transaction, the director now owns 1,119,583 shares in the company, valued at $896,494,891.42. The disclosure for this sale can be found here. Insiders have sold a total of 61,278 shares of company stock valued at $52,689,898 in the last quarter. Insiders own 4.23% of the company’s stock.

NVIDIA Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for NVIDIA (NASDAQ:NVDA)

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