Perennial Advisors LLC Has $7.50 Million Position in NVIDIA Co. (NASDAQ:NVDA)

Perennial Advisors LLC reduced its stake in NVIDIA Co. (NASDAQ:NVDA) by 16.2% in the 4th quarter, Holdings Channel reports. The firm owned 15,144 shares of the computer hardware maker’s stock after selling 2,927 shares during the period. NVIDIA accounts for approximately 1.8% of Perennial Advisors LLC’s holdings, making the stock its 20th biggest position. Perennial Advisors LLC’s holdings in NVIDIA were worth $7,500,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Altus Wealth Management LLC lifted its holdings in NVIDIA by 34.0% in the 4th quarter. Altus Wealth Management LLC now owns 811 shares of the computer hardware maker’s stock worth $401,000 after purchasing an additional 206 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of NVIDIA by 9.3% during the fourth quarter. International Assets Investment Management LLC now owns 34,059 shares of the computer hardware maker’s stock worth $16,867,000 after buying an additional 2,893 shares during the last quarter. LA Financiere DE L Echiquier lifted its holdings in shares of NVIDIA by 23.8% during the fourth quarter. LA Financiere DE L Echiquier now owns 262,132 shares of the computer hardware maker’s stock worth $129,813,000 after buying an additional 50,381 shares during the last quarter. Trivant Custom Portfolio Group LLC lifted its holdings in shares of NVIDIA by 7,743.9% during the fourth quarter. Trivant Custom Portfolio Group LLC now owns 7,687 shares of the computer hardware maker’s stock worth $3,806,000 after buying an additional 7,589 shares during the last quarter. Finally, Instrumental Wealth LLC lifted its holdings in shares of NVIDIA by 5.5% during the fourth quarter. Instrumental Wealth LLC now owns 799 shares of the computer hardware maker’s stock worth $396,000 after buying an additional 42 shares during the last quarter. 65.27% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 transaction of $7,975,700.00. Following the transaction, the director now owns 1,124,583 shares of the company’s stock, valued at $896,933,663.31. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 transaction of $410,229.00. Following the transaction, the insider now owns 49,815 shares of the company’s stock, valued at $45,412,350.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Mark A. Stevens sold 10,000 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 1,124,583 shares in the company, valued at approximately $896,933,663.31. The disclosure for this sale can be found here. Insiders have sold 61,278 shares of company stock valued at $52,689,898 over the last 90 days. 3.99% of the stock is owned by company insiders.

NVIDIA Price Performance

Shares of NVDA stock opened at $860.01 on Tuesday. The stock’s fifty day moving average is $834.27 and its 200-day moving average is $613.81. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.67 and a current ratio of 4.17. The stock has a market capitalization of $2.15 trillion, a PE ratio of 72.03, a PEG ratio of 1.27 and a beta of 1.73. NVIDIA Co. has a 52 week low of $262.25 and a 52 week high of $974.00.

NVIDIA (NASDAQ:NVDA) last announced its earnings results on Wednesday, February 21st. The computer hardware maker reported $5.16 EPS for the quarter, topping the consensus estimate of $4.21 by $0.95. The company had revenue of $22.10 billion for the quarter, compared to analysts’ expectations of $20.40 billion. NVIDIA had a return on equity of 93.61% and a net margin of 48.85%. 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 business earned $0.65 earnings per share. Equities research analysts expect that NVIDIA Co. will post 22.45 EPS for the current fiscal year.

NVIDIA Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NVDA. Wedbush reiterated an “outperform” rating and set a $1,000.00 price target on shares of NVIDIA in a report on Tuesday, March 19th. Bank of America upped their price target on NVIDIA from $925.00 to $1,100.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. HSBC upped their price target on NVIDIA from $880.00 to $1,050.00 and gave the stock a “buy” rating in a report on Monday, March 18th. Stifel Nicolaus reiterated a “buy” rating and set a $910.00 price target on shares of NVIDIA in a report on Wednesday, March 20th. Finally, Benchmark restated a “buy” rating and set a $1,000.00 price objective on shares of NVIDIA in a research report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating, thirty-seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $926.30.

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.