NVIDIA Co. (NASDAQ:NVDA) is Panagora Asset Management Inc.’s 4th Largest Position

Panagora Asset Management Inc. increased its position in NVIDIA Co. (NASDAQ:NVDA) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 950,810 shares of the computer hardware maker’s stock after purchasing an additional 30,972 shares during the period. NVIDIA accounts for about 2.6% of Panagora Asset Management Inc.’s holdings, making the stock its 4th biggest holding. Panagora Asset Management Inc.’s holdings in NVIDIA were worth $470,860,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NVDA. LFA Lugano Financial Advisors SA purchased a new stake in NVIDIA during the 4th quarter valued at approximately $28,000. Criterion Capital Advisors LLC purchased a new stake in NVIDIA during the 4th quarter valued at approximately $28,000. Your Advocates Ltd. LLP purchased a new stake in NVIDIA during the 3rd quarter valued at approximately $30,000. Trivant Custom Portfolio Group LLC raised its stake in NVIDIA by 44.1% during the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 98 shares of the computer hardware maker’s stock valued at $43,000 after acquiring an additional 30 shares during the last quarter. Finally, O Brien Wealth Partners LLC raised its stake in NVIDIA by 139.5% during the 4th quarter. O Brien Wealth Partners LLC now owns 91 shares of the computer hardware maker’s stock valued at $45,000 after acquiring an additional 53 shares during the last quarter. 65.27% of the stock is owned by hedge funds and other institutional investors.

NVIDIA Price Performance

NVDA stock opened at $949.50 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 stock has a market capitalization of $2.34 trillion, a price-to-earnings ratio of 79.52, a price-to-earnings-growth ratio of 1.33 and a beta of 1.75. The stock’s fifty day simple moving average is $886.29 and its 200-day simple moving average is $696.36. NVIDIA Co. has a 52-week low of $298.06 and a 52-week high of $974.00.

NVIDIA (NASDAQ:NVDA) last issued its earnings results on Wednesday, May 22nd. The computer hardware maker reported $6.12 earnings per share for the quarter, topping the consensus estimate of $5.14 by $0.98. The business had revenue of $26.04 billion for the quarter, compared to analyst estimates of $24.59 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. The business’s quarterly revenue was up 262.1% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. Equities research analysts expect that NVIDIA Co. will post 23.18 EPS for the current year.

NVIDIA Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Tuesday, June 11th will be given a $0.10 dividend. This is a positive change from NVIDIA’s previous quarterly dividend of $0.04. This represents a $0.40 annualized dividend and a dividend yield of 0.04%. NVIDIA’s dividend payout ratio (DPR) is 1.34%.

Insider Buying and Selling

In related news, Director Mark A. Stevens sold 10,000 shares of the 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 transaction, the director now directly owns 1,124,583 shares of the company’s stock, valued at approximately $896,933,663.31. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other NVIDIA news, Director Mark A. Stevens sold 10,000 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Dabiri sold 128 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $940.00, for a total value of $120,320.00. Following the completion of the transaction, the director now directly owns 2,055 shares in the company, valued at $1,931,700. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 61,278 shares of company stock valued at $52,689,898. 4.23% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

NVDA has been the subject of several analyst reports. Rosenblatt Securities reaffirmed a “buy” rating and set a $1,400.00 price objective on shares of NVIDIA in a research note on Monday. Wolfe Research upped their price objective on NVIDIA from $630.00 to $900.00 and gave the company an “outperform” rating in a research note on Thursday, February 22nd. Tigress Financial upped their price objective on NVIDIA from $790.00 to $985.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. Oppenheimer reissued an “outperform” rating and set a $1,100.00 target price on shares of NVIDIA in a research note on Friday, May 17th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on NVIDIA from $720.00 to $850.00 and gave the stock a “hold” rating in a research note on Wednesday, March 20th. Four investment analysts have rated the stock with a hold rating, thirty-eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,002.18.

NVIDIA Company 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.